Mensuel de juillet 2021 - Economie

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Europe’s competing financial centres put Smith and Ricardo into practice
By Nicolas MACKEL, CEO of Luxembourg for Finance, Hubertus VÄTH, Managing Director of Frankfurt Main Finance and Joost van der DOES de WILLEBOIS, Chairman of Capital Amsterdam   Brexit still carries the risk to weaken Europe as a global financial centre, but it equally carries the opportunity to become more than a zero-sum game, by leveraging the complementarity of its financial centres. The EU will need to use the current momentum to consolidate the banking union and create a real EU capital market. Only then will it be able to fully play its role in global finance.   Financial centres in the European Union are often seen as competitors engaged in a zero-sum game of snatching business away from each other. In the aftermath of the British...
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