Brexit Fallout: Should the City of London be Worried?
The City of London is facing the first direct threat to its role as Europe’s dominant financial center as French President Francois Hollande takes aim at a key pillar of the U.K. industry. “The City, which could handle clearing operations in euros thanks to the U.K.’s presence in the EU, won’t be able to do them any more,” Hollande said after the first day of a European Union summit in Brussels. Hollande is the second French leader to target London’s leading role in clearing euro-denominated transactions since Britons decided last week to leave the EU. Teneo Intelligence Co-President Wolfango Piccoli discusses with Bloomberg's Francine Lacqua on "The Pulse."