UK businesses up for grabs

Posted on: 16/03/2017

Once Article 50 has been triggered will Member States of the EU compete on getting hold of the key organisations that are currently based in the EU?  Read the following for more information

Ireland has complained to the European Commission that it is being undercut by rival centers competing to host financial firms looking for an EU base outside London after Brexit, Reuters reported.

But Dublin is Bank of America’s default option for a new base within the EU after Brexit, although other centers such as Frankfurt and Amsterdam are also being considered, senior bank executive Nikolaus Naerger said in Germany on Tuesday.

— Banks could start planning to move out of the London as soon as Article 50 is triggered, if they don’t receive assurances that the U.K. will not be left without a trade deal after Brexit, London Mayor Sadiq Khan warned a House of Commons committee.

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