Pierre Gramegna, Luxembourg Finance Minister: “We have a lot of common interests, a lot of trade happening, and we want that to continue.”
(Source: Bloomberg – 13 January 2017)

Pierre Gramegna, Luxembourg’s Finance Minister, told Bloomberg that: “London is the largest financial centre in the world. Luxembourg is the second largest in Europe. We have a lot of common interests, a lot of trade happening, and we want that to continue.”

He went on to argue that changes in financial services would reflect a change in how the sector co-cooperates to deliver services for customers, more than a competition between financial centres: “We have been insisting a lot on a cooperative effort. In the sense that, we are not there to lure big chunks away from London, and hundreds of thousands of people, but find a solution to the needs of those companies in London that do not have a foothold or a headquarter inside the Single Market, [who] will need it.”