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Originally Posted by LondonParis
On a short term maybe.... But we have to look at a long-term basis here. The fact that the European Banking Authority decided to move to Paris is a huge benefit for Paris and France in general actually as it will draw more and more financial institutions to Paris and therefore, other companies will automatically follow the movement. It's going to be a huge win for Paris ! And as Mr. Blankfein said, people are much more inclined to move to Paris than Frankfurt ! I mean come on, who the hell wants to trade London for Frankfurt ?? Now Paris on the other hand... Fashion Capital, Haute Cuisine Capital, beautiful architecture, amazing world class museums, history all over the place...Etc...etc...Etc (the list is too long)
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The EBA is a relatively minor institution, actual banking supervision lies with the ECB and national supervisors.
Despite the relative weakness of Germany's domestic banking sector, Frankfurt is structurally better positioned to attract jobs from London - mainly because it already is the most important place for Asian and North American banks in continental Europe by quite a large margin, and also because of the ECB. Also, all the turmoil in the EU in recent years has generated a certain pull to the center, and Germany will always be the last to fall, so to say.
Moreover, Deutsche Bank may turn out to be the single largest source of job moves, and it's pretty clear that they would be returning to Germany rather than France or Ireland.
That being said, both Paris and Frankfurt stand to gain (and already have gained) from Brexit, with London being the clear loser.
On a different note, Frankfurt isn't nearly as bad as its reputation, and from a non-tourist point of view actually trumps many other European cities IMO.
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Wait, a draw? Are they kidding us? Frankfurt was disqualified anyway. Dublin and Paris were the 2 in final, then they would have to draw like idiots.
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