City of Lon­don warns that France wants ‘hard Brexit’

French Property News - - News -

France is push­ing for a hard Brexit to lure fi­nan­cial firms away from the UK, the City of Lon­don’s en­voy to the EU has claimed.

In a leaked memo, for­mer Home Of­fice min­is­ter Jeremy Browne warned min­is­ters that he be­lieved the French au­thor­i­ties were seek­ing to dis­rupt and weaken Lon­don’s sta­tus as a fi­nan­cial cen­tre and saw the UK as “ad­ver­saries not part­ners”. The al­le­ga­tion came af­ter he met bank­ing chiefs, se­nior politi­cians and diplo­mats dur­ing talks held in Paris in July.

How­ever, the French of­fi­cial tasked with mak­ing Paris a fi­nan­cial cen­tre post-brexit dis­missed the claims as “to­tal non­sense.” Chris­tian Noyer, for­mer gov­er­nor of the Bank of France, said: “France has the same po­si­tion as the rest of the EU. There is no will­ing­ness to create prob­lems for Lon­don or the UK.” He said it was in­evitable, how­ever, that some ac­tiv­i­ties would move out of Lon­don for rea­sons of EU fi­nan­cial sta­bil­ity.

La Défense Fi­nan­cial District in Paris

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