Milan-Paris-Berlin: the war to become Europe’s main business hub post-Brexit

The French government pledged on Wednesday to make its tax regime for expatriates the most favourable in Europe in a landgrab for London banking business displaced by Britain’s decision to quit the European Union. “We are not in a war with London… but there is competition and we want to make Paris Europe’s top financial centre,” the head of the wider Paris region, Valerie Pecresse, told bankers. (France24)

Italian Prime Minister Matteo Renzi has set up a task force to help lure the European Medicines Agency (EMA) and the European Banking Authority (EBA) from London to Milan.  The future of the European pharmaceutical regulator and the EU’s banking watchdog have both been called into question after Britain’s seismic referendum result.  (Express, Corriere della Sera)

Cornelia Yzer, Berlin’s economics minister, says her department has received “dozens of emails” in the past week from companies based in London considering a relocation to the German capital. “Berlin will exploit the opportunity provided by Brexit,” she makes clear. (Financial Times)