On a side note: Incidentally, I will be using the term “continental Europe” throughout this lecture to refer to the EU after Brexit, which includes the Republic of Ireland. Second, a global financial centre – or, as Britons would call it, a “City” – can come into being in the EU even after Brexit.
Information technology is opening up the possibility of financial centres in the rest of the EU becoming a networked digital city of Europe, which would, to a large extent, overcome the existing fragmentation. Third, if this became the new horizon of continental financial markets, a lot of stakeholders would need to pool their resources for the project to establish a digital city of Europe.