It’s already paying dividends for the EU in the form of potentially extensive free market reforms as the continent begins to compete with a freed Great Britain for commerce. Here are some doings in the competition for the financial industry currently centered in Great Britain.
France has promised changes to cut labor costs and Italy is changing its tax regime to make it less burdensome for bankers and other professionals. Spain’s markets regulator is trying to make Madrid more international by hiring native English speakers to revise and edit all communication the agency sends out in English.
It’s certainly true that some of these reforms already are in progress, but the Brits’ going out is adding an important impetus.