Germany's Scholz expects EU to win banking business after Brexit

FILE PHOTO: German Minister of Finance Olaf Scholz delivers a speech during a roundtable with the theme 'International seminar on digital economy and social development' at Renmin University in Beijing, China, 17 January 2019. Wu Hong/Pool via REUTERS - Copyright POOL New(Reuters)

By Reuters

Published on 08/02/2019 - 11:34•Updated 24/04/2024 - 23:22

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LONDON (Reuters) - Germany's Finance Minister Olaf Scholz said on Friday Germany was ready for a hard Brexit and the European Union would win financial business from Britain.

He said nobody would have expected that it would be still unclear what sort of Brexit deal there will be just two months before Britain is due to leave the bloc.

"In the end we have to find a solution," Scholz told a Bloomberg event.

"It's obvious there will be a lot of business that moves to the EU," Scholz said of the financial services sector, adding that Germany was prepared for a no-deal Brexit.

"There will be a different landscape."

(Reporting by Marc Jones and Huw Jones)

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