Brexit Banking Exodus Creates a Dilemma for Dublin

Europe’s financial centre is splitting up, possibly for the better. Dublin has gained a lot of new business from London’s exodus, becoming the top choice of firms seeking higher ground post-Brexit, The Irish Times reported. Now Ireland must decide whether it wants to be a leader or a counterweight in Europe’s financial future. With the departure of the UK as the financial industry’s primary voice, the EU will have a chance to redefine how it approaches its banking and capital markets. Already, debates have begun about making the regulatory framework more centralised or enabling a more regionally diverse and competitive financial sector. Proponents of a homogenous approach argue that a level playing field requires common rules, otherwise EU markets will never reach the level of integration necessary to prosper on a global scale. Read more