Brexit watch
that the liquidity is there in the UK banking system, the Bank of England and other financial institutions are ready and willing to provide further support if that becomes necessary.
Basically the governor wanted to reassure everybody that the UK financial system can cope with a period of sustained volatility in the market if that arises, said the diplomat.
The fundamentals of the British economy are very strong and there is no cause of concern, the diplomat added.
He said UK intends to start a new relationship with all countries.
“We are well- placed to reshape our relationship with the European Union, with the GCC, America, with China and India,” Shokat said.
“As a country we want to ensure people that we are an international player, we are still globally minded and a big- thinking country. Eighteen of the top 100 ranking universities in the world are in UK. In terms of G7 and G20 we are in top 2 or top 5, so all the fundamentals of a robust economy are there.”
To a question whether France will be a winner as a result of Brexit as many financial companies that were based in London, being the financial hub of Europe, might want to relocate after Britain’s exit from the EU, French Consul General Patrick Nicoloso said: “France will welcome any company coming to our country.”