The Daily Mail reports that the threat to UK operations would be a major blow to the City – dubbed by some the ‘golden goose’ of the UK economy because of the taxes raised from highly paid bankers and the trade it attracts from other European countries.
But leading bankers now fear that London’s glory days are behind it.
One top investment banker, who preferred not to be named, told The Mail on Sunday that ‘we have seen the high watermark of London as a financial centre’ because major banks are considering plans to move thousands of jobs to Frankfurt and Dublin.
People in the City were ‘monster shocked’, he added.
Alan Greenspan, former Chairman of the US Federal Reserve, told the BBC: ‘The focus is going to shift to other areas of economic union: Frankfurt, Paris, or what have you.’
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