France is pushing the charms of Paris to global banks as an alternative to a post-Brexit City of London charles platiau/ReutersThe head of Britain’s banking lobby group has described France’s campaign to win business from London as highly political and has claimed that French negotiators are refusing to accept that issues such as legality of contracts pose a serious risk to the financial system after Brexit. Stephen Jones, chief executive of UK Finance, said that France had been “very joined up” in its lobbying since Brexit “to win for Europe, and for France, what it believes to be its legitimate share of the financial centre that has migrated to London over the last 40 years”. France “does not appear be concerned about the economics, or even about financial stability, but is focused on the politics and about winning long-term advantage in financial services”, he said.

Source: The Times March 30, 2018 23:03 UTC