67377
Paris Competing With Dublin, Frankfurt
Paris Competing With Dublin, Frankfurt

Paris Competing With Dublin, Frankfurt

Paris Competing With Dublin, Frankfurt

The French government will open a tribunal in Paris to handle financial cases in English in an effort to attract more American banks after Brexit, a top official said Thursday.
French Economy Minister Bruno Le Maire highlighted the proposal as a way to position Paris to compete with Dublin, Frankfurt and other centers for an expected shift in finance jobs out of London due to Brexit. Most international financial contracts are written in English and make reference to British law, AFP reported.
“We will create a special court to handle disputes relating to financial contracts governed by English law, once the UK leaves the EU,” Le Maire said in a speech at the New York Economic Club. “All proceedings will take place in English. We will hire people with experience in common law, regardless of where they come from.”
Over the course of two days in New York, Le Maire was to meet with executives from large banks, including JPMorgan chief executive Jamie Dimon and senior officials at Citigroup, Morgan Stanley and BlackRock.
Le Maire also planned to hand deliver a personal letter from French President Emmanuel Macron to the executives outlining his government’s measures to attract business ahead of a public announcement by the French prime minister in mid-July, according to a person familiar with the matter.
As Macron takes the first steps to relax France’s rigid labor laws, Le Maire echoed the president’s robust defense of the European Union and said France was committed to making its economy less encumbered by red tape and excessive taxation.

Short URL : https://goo.gl/JYoRhV
  1. https://goo.gl/hov58s
  • https://goo.gl/PrhKs2
  • https://goo.gl/L8PK4Z
  • https://goo.gl/JXP7J6
  • https://goo.gl/pV6nKS

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus