Brexit Fallout - taking back control part 94

It is reported in THE TIMES today that Goldman Sachs is to begin moving hundreds their bankers from London to Germany, France and other cities of the European Union as part of its response to Brexit. The report adds that they are not the only bankers leaving the City which accounts for a whopping 80% of Britain's GDP. "Several big American banks, including Citigroup, Morgan Stanley and Bank of America, have outlined contingency plans to move thousands of employees from London to other financial centres in Europe because of Brexit." (page 11).

Brexit will take about two years but the money people are jumping ship in the meantime. Their loss will see Britain, once an economy built on manufacturing but since putting most of its investment into the banking and financial services sector, listing badly in choppy waters.
 

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