Job loss claims rub­bished

Daily Mail - - News -

THE chief ex­ec­u­tive of Ger­many’s big­gest bank has rub­bished Euro­pean at­tempts to steal an es­sen­tial part of London’s prized cur­rency trad­ing busi­ness, say­ing as few as 74 UK jobs would be lost.

Deutsche Bank boss John Cryan poured scorn on an­tiBrexit cam­paign­ers’ claims that up to 100,000 roles could dis­ap­pear from the City if so-called euro ‘clear­ing’ has to move. The busi­ness un­der­pins the trade of tril­lions of eu­ros ev­ery year and helps London main­tain its supremacy over EU ri­vals.

Coun­tries on the Con­ti­nent have cast jeal­ous eyes on the op­er­a­tion, hop­ing it will help them at­tract huge in­vest­ment banks.

But Mr Cryan dis­missed this as wish­ful think­ing.

‘I don’t un­der­stand why the Euro­peans want clear­ing. There’s con­fu­sion about what it is. The idea of 74,000 jobs be­ing at risk is ridicu­lous, it’s more like 74.’

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