Theresa May vows to get good Brexit deal for financial sector
If re-elected as Prime Minister, Mrs May promised to ensure London retains its international prominence within the financial sector because she insists all members of the European Union "benefit" from the city's expertise.
Speaking to City AM, Mrs May said she hoped to maintain "the City as the important presence that it is not just in relation to the UK but in relation to capital markets and financial services internationally".
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She continued: “We need to make sure that we’re getting a good deal for the City in the future."
While she did not provide a definite answer on her euro clearing stance, Mrs May said: "I would hope that actually what people will see in the remaining 27 member states is the significant role that the City plays in supporting their economies and their businesses and also the fact that it has taken many years for the City to build up those expertise, to build up that ecosystem.
“That can’t be done by somebody else at the drop of a hat.
“I think they [EU countries] all benefit from the expertise, the skills, the size of the capability of the City and anything that diminished that would not be sensible for them because they’re benefiting from it at the moment.”
Last month, the chief of the London Stock Exchange issued a shock warning to European leaders that any plan to forcibly move London's clearing business to Europe would spell the end of the euro as a serious currency.
I think they [EU countries] all benefit from London's expertise
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Xavier Rolet, chief executive officer at the London Stock Exchange, said euro clearing could lead to the "end of the euro".
Catherine McGuiness, the Policy Chairman of the City of London, highlighted how important it was for Mrs May to secure an "agreement" with the EU.
She said: “I think this is a critical moment and I was pleased to hear what was just said about needing access to the brightest and best we plainly do.
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“London has thrived on being open to talent."
In a touching moment during her interview, the Prime Minister reflected on her first job at the Square Mile.
Her time at the Association for Payment clearing Services and the Bank of England has spurred her to get a good deal for the financial services community.