Here’s how Brexit may cripple Britain’s financial sector — and the British economy
August 5, 2016 5:34 PM
By Christopher Mitchell in Washington Post
By Christopher Mitchell in Washington Post
On June 23, the British people voted to leave the European Union, a victory for "Brexit." The short-term reaction from markets was panic, as stock values crashed and the pound dropped to levels not seen since 1985. The longer-term consequences for British exit from the E.U. remain unclear - but one clear problem area for Britain is financial services. London is now the financial hub of Europe and a key driver of the British economy. It may lose this crucial role after Brexit.
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