London may be the financial “stall” due to Brexit, I believe in Goldman Sachs

London may be the financial “stall” due to Brexit, I believe in Goldman Sachs

MOSCOW, 5 may — RIA Novosti. London can completely change and lose status as a financial center because of the risks associated with the forthcoming British exit from the EU (Brexit) — this option does not preclude CEO of Goldman Sachs Lloyd Blankfein (Lloyd C. Blankfein).

In June, approximately 52% of UK citizens voted in a referendum for the country’s withdrawal from the EU. The procedure, Britain should now withdraw from the European Union in the spring of 2019. The government has already announced that Brexit will be held at the “hard” version of the single market and the customs Union of the EU.

“I don’t think he (London — ed.) will change completely. He stops, he can slightly change its course — it depends on many things, we’re not aware of, but I know that at the moment there is no certainty,” said Blankfein in a BBC interview, stressing the importance of having as small as possible barriers for companies in the financial services sector that trade of Britain with the EU.

“The UK has a long history, of course, in the financial services industry, management, markets — and has a fair system, which makes the country very attractive… And if you can’t connect to EU from the UK — and nobody knows, what will be these terms and conditions, then the risk is that there will be some adjustment, which will force some to reduce the presence in the UK,” he explained.

But this evolution would have been very undesirable, the words Blankfein. “It is obvious that many prefer to focus their European business in one place, and the simplest. Of course, in order to concentrate for the biggest economy in the world — America — this place is UK: culture, language, special relations, and we are an example of this,” he said.

In April, the European Central Bank (ECB) announced that banks wishing to move to the EU its operations after Brexit, it can take up to years to obtain a license (just a license renewal may be enough for less than six months). Also called the likely beneficiaries of the migration of British Bank assets are financial centers such as Frankfurt, Paris, Dublin and Luxembourg.