{"id":288635,"date":"2025-07-24T19:05:19","date_gmt":"2025-07-24T19:05:19","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/288635\/"},"modified":"2025-07-24T19:05:19","modified_gmt":"2025-07-24T19:05:19","slug":"humiliation-for-macron-as-french-paper-admits-uk-still-dominating-after-brexit-world-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/288635\/","title":{"rendered":"Humiliation for Macron as French paper admits UK ‘still dominating after Brexit’ | World | News"},"content":{"rendered":"

Five years on from Brexit<\/a>, the UK continues to assert itself as Europe’s<\/a> financial powerhouse, even as business evolves across the continent and various criticisms from Emmanuel Macron<\/a>.<\/p>\n

Earlier this month, the French President suggested Brexit was to blame for the small boats crisis in the English Channel<\/a> as Sir Keir Starmer<\/a> launched a new one-in, one-out migrant returns deal. The French leader claimed Britons had been “sold a lie” that leaving the EU would “make it possible to fight more effectively against illegal immigration”. According to French economic commentator Amaury Allard, writing for Le nouvel Economiste:<\/a> “Brexit<\/a> has fragmented financial activities. Amsterdam has risen to the top in equity trading volumes, Frankfurt has strengthened its asset management position, Paris has seen a surge in recruitment, and Dublin has become the European headquarters of many banks.\u201d Yet despite this redistribution, \u201cnone of these centres has been able to establish itself as an undisputed leader.”<\/p>\n

Mr Allard noted that nearly 70 companies have expanded into various European Union (EU)<\/a> cities alongside their main post-Brexit<\/a> hub, leading \u201cEurope to gain share, but lose coherence.\u201d<\/p>\n

Meanwhile, the UK has used its departure from the EU as an opportunity to reshape financial regulation.<\/p>\n

The Financial Services and Markets Act of 2023 marked a significant overhaul of rules inherited from Brussels, deepening the reforms outlined in the earlier Kalifa report, which established a new growth model for UK fintechs.<\/p>\n

Today, the UK reportedly ranks as the world\u2019s third-largest fintech market, trailing only the US and UAE and raising $1.5 billion in the first half of this year, outpacing France and Germany combined.<\/p>\n

Mr Allard also pointed to the March 2025 Global Financial Centres Index (GFCI), which reaffirmed London\u2019s resilience as it placed second only to New York as the world\u2019s top financial centre. He said London also \u201cdominates\u201d in insurance and asset management.<\/p>\n

While some business functions have shifted across the Channel, the exodus of jobs<\/a> from London has not materialised quite as expected.<\/p>\n

According to the City of London Corporation<\/a>, the number of City jobs grew by over 13% between 2019 and 2022, with nearly 73,000 more jobs in circulation compared to pre-pandemic levels. Of this figure, 6,000 more financial services jobs were added to the market within this timeframe.<\/p>\n

Mr Allard said: \u201cWhile the EU struggles to speak with one voice, London is asserting itself as an agile, reformist centre, more open than ever to global capital. Five years after leaving the EU, the United Kingdom has not regained its imperial grandeur – but the City has certainly retained its crown.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Five years on from Brexit, the UK continues to assert itself as Europe’s financial powerhouse, even as business…\n","protected":false},"author":2,"featured_media":288636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5226],"tags":[802,107748,72816,42553,5322,748,43149,1700,3374,2000,299,5187,1699,4884,16484,257,107746,16,107745,107747,15],"class_list":{"0":"post-288635","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brexit","8":"tag-brexit","9":"tag-brexit-britain-economy","10":"tag-brexit-impact","11":"tag-brexit-latest","12":"tag-brexit-news","13":"tag-britain","14":"tag-city-business-section","15":"tag-economy","16":"tag-employment","17":"tag-eu","18":"tag-europe","19":"tag-european","20":"tag-european-union","21":"tag-great-britain","22":"tag-job-market","23":"tag-london","24":"tag-london-financial-centre","25":"tag-uk","26":"tag-uk-financial-dominance","27":"tag-uk-fintech-growth","28":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114909775409244922","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/288635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=288635"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/288635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/288636"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=288635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=288635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=288635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}