Thursday, 14 September 2017

French economy minister Benjamin Griveaux predicts Paris overtaking City of London after Brexit

A French government minister has claimed Paris could be the "first financial place" in continental Europe within five to 10 years.

Junior economy minister Benjamin Griveaux - a key ally of President Macron - made his remarks while on a visit to London aimed at persuading companies to shift business from the UK to France after Brexit.

He said he was confident the French capital, which has been a minor financial centre dwarfed by London for decades, would be more prominent in future.

The comments were made in the wake of a recent study which found London had extended its lead as the world's top destination for financial services.

The Z/Yen global financial centres index placed Paris in 26th spot.
"In five to 10 years, Paris will be the first financial place in continental Europe," Mr Griveaux told reporters, adding: "London will remain an important and major financial place, for sure."

He had earlier used an interview with Sky News to insist the drive to attract more international companies to France was not just about the UK's looming departure from the EU but part of his government's plans to secure more business worldwide.

SKY      News.