UK BBA Chief: Major banks are already planning to relocate from Britain

Dhwani Mehta FXStreet

The head of the British Banker Association (BBA), Anthony Browne, wrote an article about the UK banks relocating to Europe, in wake of Brexit-related uncertainty, the Guardian reports.

Key Quotes:

"If we get it wrong, that £20bn trade in financial services is at risk and the public and political debate is taking us in the wrong direction."

"Banker colleagues in other EU countries all agree that disrupting the free trade in financial services would be self-inflicted damage.”

“The top regulators in the UK and EU also agree that we must retain the integrated financial market.“

“If we left it all to the regulators, we would have a relatively quick and rational economic solution. But politics trumps economics and it will be the politicians who decide."

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