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WORLD NEWSFriday 24 November 2017
‘Macron effect’ fuels Paris bid for post-Brexit business
By ANGELA CHARLTON cron, whose government British Prime Minister Theresa May, right, speaks with French President Emmanuel Macron as they
Associated Press has set aside quiet diplo- walk on a pier at an EU summit in Goteborg, Sweden. Banking giant Citigroup, fast food KFC and
PARIS (AP) — Banking giant macy and relentlessly lob- elevator-maker Otis are planning to expand activities in France thanks in part to what they call
Citigroup, fast food KFC bied for post-Brexit jobs, the “Macron effect.”
and elevator-maker Otis tweeted his joy. Goldman
are planning to expand Sachs CEO Lloyd Blankfein (AP Photo/Virginia Mayo)
activities in France thanks tweeted his appreciation
in part to what they call the last week’s for the “positive all of them — or stay put. Bain and Company, which are still a lot of uncertain-
“Macron effect” — a surge energy” in Paris — and the Macron’s six-month-old conducted a survey with ties,” he said.
in investor optimism driven world-famous food. presidency has already the American Chamber Citigroup will make a “par-
by the French president’s But the competition is had a remarkable impact of Commerce released tial move” toward France
pro-business promises. fierce. From Dublin to on investor confidence, Thursday on business confi- as well as other cities, said
But will they move their Eu- Frankfurt, Luxembourg or but “most investors do not dence in France. its France director Ma-
ropean headquarters to Amsterdam, cities across plan to move their compa- “There is a slight boost in thieu Gelis, who called the
Paris after Britain pulls out of the continent are vying to nies from Britain to France,” sentiment that Brexit will choice of Paris for the EBA
the EU? Not so fast. draw business away from said Marc-Andre Kamel of help France ... but there “a super-positive sign.”q
The French capital’s cam- the City of London, as fi-
paign to pull in jobs from nancial companies look for
London — particularly in a new hub allowing them
the prestigious finance easy access to markets in
world — clinched a vic- the 27 nations remaining in
tory this week when the EU the open-border EU.
chose Paris to take over the Instead of relocating
European Banking Author- wholesale, however, Lon-
ity from London post-Brexit. don’s financial activities
President Emmanuel Ma- may instead splinter across
In leaked document:
EU officials say UK Brexit stance chaotic
LONDON (AP) — European government officials are EU member Ireland. EU of-
officials see Britain’s perfor- cited as saying “the big- ficials have expressed frus-
mance in Brexit negotia- gest problem is the chaotic tration with a lack of con-
tions as confused and cha- political situation in the U.K. crete proposals from Britain
otic, a leaked Irish govern- government.” Ian Forrester, to break the logjam. Irish
ment document says. a British judge at the Euro- politicians, in particular, say
Irish broadcaster RTE pub- pean Court of Justice, re- the U.K. urgently needs to
lished details Thursday of portedly bemoaned “the spell out how it can keep
a confidential document quality of politicians in West- the Ireland-Northern Ire-
from Ireland’s Department minster” during a meeting land border free of cus-
of Foreign Affairs compiling in Luxembourg, and won- toms posts and other bar-
reports from Irish diplomats dered whether the British riers after Brexit. Ireland’s
across the European Union. public would come to view foreign affairs ministry de-
One quoted Czech Deputy Brexit as “a great mistake.” clined to comment on the
Foreign Minister Jakub Durr Britain is due to leave the report. British Prime Minister
as saying “he felt sorry for EU in March 2019 but di- Theresa May’s office said
British ambassadors around vorce talks have stalled it would not comment on
the EU trying to communi- on issues including the size leaked documents but in-
cate a coherent message of the U.K.’s Brexit bill and sisted “the government is
when there is political con- the future status of the bor- working hard on prepara-
fusion at home.” Latvian der between the U.K. and tions for Brexit.”q
