If Britain votes to leave the EU, international banks may relocate their operations from London to Frankfurt, with some banks considering moving a three-digit number of jobs from Britain. Frankfurt, despite being much smaller than London, boasts the location of the European Central Bank in the heart of Europe's largest economy. Frankfurt is a far smaller city than London and labour laws in Germany are widely seen as more onerous than those in the UK, where it is easier to lay off staff. The British government has said it will not negotiate over its future relationship with Europe until after Britons have voted on June 23.
If Britain votes to leave the EU, international banks may relocate their operations from London to Frankfurt, with some banks considering moving a three-digit number of jobs from Britain. Frankfurt, despite being much smaller than London, boasts the location of the European Central Bank in the heart of Europe's largest economy. The British government has said it will not negotiate over its future relationship with Europe until after Britons have voted on June 23.