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Money Talks from The Economist

Money talks: Banks on the move

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 14 February 2017

⏱️ 15 minutes

🧾️ Download transcript

Summary

Are thousands of banking jobs set to migrate from Britain into the eurozone? Patrick Lane discusses potential destinations with host Simon Long. Also: a currency catastrophe in Zimbabwe and the decline of the executive jet

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Transcript

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0:00.0

May I have your attention please you can now book your train tickets on Uber and get

0:08.0

10% back in credits to spend on your next Uber ride so you don't have to walk home in the brain again.

0:16.5

Trains now on Uber. Tees and'm Simon Long, the finance editor.

0:30.0

Coming up this week, we'll be looking at the possibility of a post-Brexit exodus from London.

0:35.0

The French will say things like, well, you know, there are only two global economic cities in Europe, London, Paris.

0:43.0

Is Zimbabwe heading for another currency crisis?

0:46.0

Most Zimbabweans who are now calling it the Bollar instead of the dollar.

0:50.0

I begin to think of it as monopoly manual.

0:52.0

And as all play and no work, make an executive jet an expensive toy.

0:56.4

One of the most remarkable trends of the financial crisis

0:58.9

is that although the amount of travel on corporate jets

1:01.6

for business has been falling.

1:03.1

CEOs are increasingly taking the corporate jet on holiday.

1:08.7

In the wake of Britain's Brexit vote,

1:10.6

hardly a week goes by without rumors of a big financial institution planning

1:14.5

to move some jobs out of the city of London.

1:17.0

A number of cities in the Eurozone seem eager to welcome them.

1:20.0

Paris, Luxembourg, Frankfurt, Amsterdam, Dublin, the list goes on.

1:24.4

Patrick Lane, our banking editor, has been investigating their sales pitches.

1:28.2

Patrick joins me now.

1:29.8

Patrick, first of all, roughly what sort of order of magnitude are we talking about how many jobs?

1:35.0

Well that's a good question Simon. You hear reports and talk about tens of thousands but it's

...

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