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France steps up efforts to lure London banks to Paris

There's fierce competition between Paris, Frankfurt, other European cities to woo London-based banks

Jean-Baptiste Vey | Reuters 

French authorities on Friday stepped up efforts to attract London banks to Paris after Brexit by pledging to cut labour costs and ensure they do not face tougher regulations than European rivals. There is fierce competition between Paris, Frankfurt and other European cities to woo the banks based in the City of London financial centre as they consider where to shift some operations to maintain access to the European Union’s single market after Britain leaves the bloc. Until now, Paris’ rivals, including Frankfurt, Dublin and Luxembourg, have been making the ...

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First Published: Sun, July 09 2017. 01:25 IST