Amsterdam wants to take London’s crown as global financial hub

Britain’s vote to leave the European Union may give Amsterdam the momentum to become the new center of international finance, reports Dutch daily Volkskrant citing the city’s administration.

“I cannot say the names, but a number of Asian companies operating in the finance sector and located in London, have turned to us in recent weeks,” said Deputy Mayor Kajsa Ollongren, stressing that the firms want to move to the Dutch capital to provide services for mainland Europe.

The companies need to avoid uncertainty connected to labor legislation, taxation, currency rates as well as stability of the British economy, according to the official.

“Asia’s businessmen do not accept such a contingency,” the politician added.

Britain quitting Europe in the long-term puts the Dutch economy in jeopardy, according to Ollongren.

“After leaving the EU, Britain will get an opportunity to independently change the rules of taxing and provide more attractive conditions for business,” she said.

Paris and Frankfurt are also jostling for London’s mantle.

Even before the UK referendum, Paris’s financial elite hosted a conference at which they promised to “roll out the red carpet” for City bankers in the event of Brexit. Frankfurt is also confident it can lure financiers from London.

“Brexit would be bad for Britain, for Germany and for the EU,” Hubertus Väth from Frankfurt Main Finance, a body that promotes the city as a financial center told the Financial Times. “But if it does happen, then Frankfurt is well placed to benefit.”

On Friday, UK citizens voted to leave the European Union by 52 to 48 percent in a national referendum. Now the decision has to be approved by the British Parliament.

Prime Minister David Cameron, a fierce proponent of staying in the EU, announced his resignation on Friday. A new prime minister will be chosen in October. (RT)