Brexit - Frankfurt to become the New London?
Why Frankfurt might be crossing fingers for a Brexit
I wrote about my views around Brexit often in the past - here a view from a Germany city and the potential this event could happen - not talking about my general views. So for Frankfurt, the German banking capital, the hard Brexit can come, the City of Frankfurt is ready. New bank towers are being built, Goldman Sachs is moving staff, international schools are booming like the private King's College - the first purely British school in the Frankfurt region - that had a great start one year after opening.
The inquiries from Great Britain are increasing according to the school director which is diretly related to Brexit with agencies supporting employee relocation for banks and companies. When Brexit happens most of the bankers might have to move - currently all is uncertain until March 29 at least. Frankfurt would benefit a lot, prizes for property are increasing, many players will focus on the city in Germany which would result in major boom.
I used to be a banker in Frankfurt too - long time ago
Some might know, some not but before marketing I used to be a real banker and even worked in Franfurt in one of these huge towers - but different story! Like many other banks, Goldman began to establish itself in continental Europe more than two years after the Brexit referendum: the technical infrastructure, risk management, controlling. Frankfurt is now the seat of a newly founded European public limited company in which the Spanish and German units have been merged.
When it became clear after the referendum that colleagues from various London banks would have to move to the continent, scepticism about the city was great. Many regarded Frankfurt as too provincial, too little international. This has certainly changed in the meantime. Not only the distances are much shorter compared to London and its airport traffic madness.
So - what do you Blockchain and Decentralization experts think?
- Will Britain really leave the European Union on 29 March?
- And if so, with or without an agreement?
- Or will everything take longer?
- Will Frankfurt become the New London?
Photo from Pixabay used under CCO license
No, Frankfurt will not become the New London - irrespective of the Brexit. The reason is simple: The golden era of banking lies in the past. The Internet and now decentralized networks and cryptocurrencies will greatly reduce the importance of classic world financial cities.
In my opinion this is a good thing.
true but the traditional industries still try to protect their stuff by lobbying
Yes, it will buy them some time, but will not prevent the transformation.
Nice story. I hope to visit Frankfurt someday.
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Every country in Europe needs to leave the EU. This is a big thing as Open Borders creates No-Go Zones and Sanctuary Cities. That's why I'm sharing and liking this post. I love talking about these things.
Hmmm - apart from decentralization in general where we are still far away from - what is the option for Europe then? Back to Stone Age?
People have to keep talking about things. That is how change occur. The good news is that we have the Yellow Jackets in Europe. We have the Tommy Robinson patriots.
I see - not sure I consider these guys as good news but maybe different views of perspective.
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