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London’s Fight to Remain a Financial Hub After Brexit, Explained

Canary Wharf, London

Canary Wharf, London

Photographer: Chris Ratcliffe/Bloomberg

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Can the City of London survive Brexit? Banks are preparing for the worst and are pretty sure they will lose much of the freedom they now enjoy to trade with the European Union. But just how bad Brexit gets for banks hinges on the details that will be worked out in political negotiations, as well as in private talks between firms and supervisors. There are five battlegrounds that could spell the difference between a modest and a major hit.