Britain’s biggest banks are preparing to relocate out of the UK in the first few months of 2017 amid growing fears over the impending Brexit negotiations, while smaller banks are making plans to get out before Christmas. Facebook Twitter Pinterest Anthony Browne, head of the British Bankers’Association, says the whole of Europe will suffer if Britain choses a hard Brexit. Browne writes that some Brexiters have made such an argument but that such a deal would not be enough to stop banks deserting Britain. “On this side of the Channel, some high-profile Brexiters have poured scorn on the idea that we need passporting at all and that other regimes such as ‘third country equivalence’ will do. Delegations from Frankfurt, Paris, Dublin and Madrid are all coming to the UK to pitch to bankers.

Source: The Guardian October 22, 2016 19:52 UTC