Web Desk January 21, 2021

The Bank of France’s governor has said that Britain’s withdrawal from the European Union has driven almost 2,500 jobs and “at least €170bn in assets” to France, APA-Economics reports citing The Guardian.

 

London remains the continent’s foremost financial centre but Amsterdam, Dublin, Frankfurt and Paris have all scrambled to attract businesses that wanted to remain active in the 19-nation eurozone.

 

The coronavirus pandemic made it even more important to boost business activity, given its severe economic effects.

 

“In spite of the pandemic, almost 2,500 jobs have already been transferred and around 50 British entities have authorised the relocation of at least €170bn (£150bn) in assets to France at the end of 2020,” bank governor Francois Villeroy de Galhau told a press briefing.

 

“Other relocations are expected and should increase over the course of this year,” he added.

 

In particular, Brexit has forced Europe to develop its financial autonomy, de Galhau said.

 

Source: Azeri-Press News Agency

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