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EU should aim to maintain London's financial hub status: Schaeuble
March 16, 2017 / 1:28 PM / 7 months ago

EU should aim to maintain London's financial hub status: Schaeuble

German Finance Minister Wolfgang Schaeuble presents draft budget for 2018 and mid-term plans for state spending until 2021 during a news conference in Berlin, Germany, March 15, 2017. REUTERS/Fabrizio Bensch

FRANKFURT (Reuters) - The European Union will need time to firm up its own financial services sector so it needs to ensure that London’s role in the sector is not compromised even after Brexit, German finance minister Wolfgang Schaeuble said on Thursday.

“I am totally aware and convinced that Europe as a whole... we have our own interest, even after Brexit, to have a strong financial center in London,” Schaeuble, speaking English, told a conference in Frankfurt.

Reporting by Balazs Koranyi and Andreas Framke; Editing by Alison Williams

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