Brexit: Fifty banks are preparing to move to the European continent

British banks have already made contact with the European Central Bank (ECB) to discuss a potential move of their activities from London to a Eurozone country, the ECB said on Tuesday.

“Some contacted us on various occasions to talk about their removal plans,” says Danièle Nouy, ​​head of banking supervision at the ECB. Some 20 institutions have already applied for a license for the Eurozone.

Under European law, a bank wishing to offer its services within the European Union, such as savings or credit accounts, must have an independent subsidiary within the Union.

Brussels, Paris, Frankfurt, Dublin and Amsterdam are the main candidates for hosting these financial activities.


The author: Michel DEURINCK

Michel Deurinck, born in Brussels in 1950, started his career in the Belgian civil service, dedicating over 30 years to public service. Upon retirement, he pursued his passion for journalism. Transitioning into this new field, he quickly gained recognition for his insightful reporting on politics and culture. Deurinck's balanced and thoughtful approach to journalism has made him a respected figure in Belgian media.

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