{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Brexit threat to the City of London' data-url='/boclips/videos/6878e450859c693875d0f220' data-video-url='/boclips/videos/6878e450859c693875d0f220' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBrexit threat to the City of London\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eBritain’s financial sector – the City of London – is abuzz with contingency plans. In the near future a raft of banks are expected to announce what they will do when Britain leaves the European Union, including moving staff to places...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eBritain’s financial sector – the City of London – is abuzz with contingency plans.\u003cbr\u003e\u003cbr\u003e In the near future a raft of banks are expected to announce what they will do when Britain leaves the European Union, including moving staff to places like Frankfurt and Paris.\u003cbr\u003e\u003cbr\u003e The man whose job it is to talk up London’s role as Europe’s international financial centre says we should not exaggerate the numbers that will leave but admits the UK economy could suffer. \u003cbr\u003e\u003cbr\u003e Jeremy Browne, the City of London’s Special Representative to the EU, said: “There are some banks here in London that will shift some of their activities that need to be in the single market out of London, when London is no longer in the single market, into a city that is in the single market. That is logical. But I would caution people against exaggerating this phenomenon – most of the activity of those banks I predict will stay here in London, because London is the big global financial centre on the continent of Europe.”\u003cbr\u003e\u003cbr\u003e He added: “A lot of people work in the City of London, it raises a lot of tax revenue for the British government, so it services the British economy as well as the wider European economy.”\u003cbr\u003e\u003cbr\u003e Browne cautioned that an acrimonious Brexit would harm both the UK and Europe and that EU negotiators must be balanced in their approach, not looking to undermine London. \u003cbr\u003e\u003cbr\u003e One senior Danish banker agrees. J.P. Leschly Neergaard, Global Head of International Banking at Danske Bank, said: “London is a financial hub, not only for Europe and for the EU, but for the whole world. London safeguards a large number of Europe’s financial interests and has been doing so for a number of years.”\u003cbr\u003e\u003cbr\u003e There are predictions of tens of thousands of jobs being lost if Britain fails to secure adequate access to EU markets after Brexit.\u003cbr\u003e\u003cbr\u003e Just this week Standard Chartered and JP Morgan announced contingencies.\u003cbr\u003e\u003cbr\u003e The Asian focused British-based bank said it will make Frankfurt its European base of operations.\u003cbr\u003e\u003cbr\u003e The US giant JP Morgan said it will moved hundreds of staff to Frankfurt, Luxembourg and Dublin.\u003cbr\u003e\u003cbr\u003e Standard Chartered picks Frankfurt for its main base inside the EU after \u003ca \u003ca href='https://t.co/tbNgTMpO7N' target='_blank' rel='nofollow'\u003ehref=\"\u003c/a\u003e\" rel=\"nofollow\"\u003eBrexit\u003c/a\u003e pic.twitter.com/ZYXA7pzeGI— Bloomberg Brexit (@Brexit) May 3, 2017\u003cbr\u003e\u003cbr\u003e JPMorgan Confirms the 3 Cities 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