In this strange “Age of Brexit” suddenly the chips are all up in the air. And while London remains the financial capital of Europe, that crown is now up for grabs.
One of London’s biggest sectors, in terms of its financial sector, is its position as the multi-national clearing house of the European economy.
It’s estimated that stripping the euro clearing from London as a result of the U.K.’s Brexit vote could cost banks $77 billion in additional collateral, according to the London Stock Exchange.
Clearing has emerged as a battleground since Britain’s vote to exit the European Union. Both French and German leaders argue that euro operations shouldn’t remain in London once the U.K. leaves. It’s also said by some that if the clearing operations are removed, they will never come back to London.
So if that happens, then where would they go? Well Paris is gunning for this jewel in the crown. And, at the same time, in the last few years, a previously dormant FinTech startup scene has burst forth.
This week, the first ever Paris FinTech Forum will be put on and I’ll be there to meet and greet with the emerging FinTech scene.
So, if you would like to meet me there, or nearby the conference (I’ll find somewhere), then just fill out this form. You may also catch Paris-based Romain Dillet there if you’re lucky!Featured Image: lakbaydiwa PASANKRUS/Flickr UNDER A cc by 2.0 LICENSE