LondonNet News Headlines
|London Still Leads Europe|
- euro not a problem, says Bank of England
LONDON is holding on to its pre-eminent position among European financial centres, according to the Bank of England.
Fears have been raised that with Britain still not part of the euro currency zone, London would be supplanted by Frankfurt and others as the continent's most important bourse. But the Bank of England reports otherwise. "All evidence indicates that London has fully maintained its market share," says the report.
The threat to London's position, says the Bank, is not European integration or lack of it, but the failure of governments to cut through regulatory barriers, such as tax, accounting and employment legislation.