With Theresa May’s Brexit withdrawal agreement still hanging in the balance, the future is uncertain for what a post-Brexit UK may look like. Many are wondering what lies ahead for the City of London, home to the UK’s finance and financial services sector. However, Iain Martin’s 2016 book, “Crash Bang Wallop: The inside story of London’s Big Bang and a financial revolution that changed the world”, points towards ways in which the EU may become “out of date” in the face of the UK’s financial innovations.
In it, the political and financial commentator offers his predictions for what comes next for the City.
Mr Martin acknowledges that “Europe and the euro played a part in successfully remaking the City” and how “the launch of the single currency propelled the City to new heights".
He adds that London occupies an important space, “sitting at the crossroads between the dollar and the euro".
All of this means “there will be consequences” for the City when Britain leaves the EU but Mr Martin sees a lot of positives in what comes next.
London's financial innovation could see it prosper after Brexit (Image: Getty)
