London is Europe’s financial capital – but perhaps not for long. REUTERS/Toby Melville/File Photo
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For companies in the European Union, London is the chief gateway to finance. Rerouting the financial lines that run through London will be complex, experts say. London dominates wholesale banking in Europe, a 5.8 trillion-euro ($6.2 trillion) industry that includes financing for companies from big multinationals to family-owned firms that are the backbone of Germany's economy.This could be a London bank organizing a sale of European company bonds, for example.More than 7 trillion euros of trading in such instruments is processed in London daily.Think tank Bruegel predicts that London's share of this market will eventually shrink from 90 percent to 60 percent.
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