Christian Noyer: Brexit implications for City of London
The French official tasked with making Paris a financial hub after Brexit says France has no intention of stirring up trouble for the UK.
Former governor of the Bank of France Christian Noyer was commenting on a leaked memo from the City of London's Brexit envoy Jeremy Browne, which stated that France’s objective in Brexit negotiations was "the weakening of Britain, the ongoing degradation of the City of London".
Mr Noyer told Hardtalk the content of the memo was "total nonsense".
He said: "France has the same position as the rest of the EU... there is no willingness to create problems for London or the UK."
But he added that EU institutions would need to have the power to regulate financial activities to protect financial stability and that would mean activities would need to move out of London.
You can see the interview in full on Thursday 3 August 2017 on BBC World News and the BBC News Channel and after on BBCiPlayer (UK only)
03 Aug 2017
- From the section Business