London will lose The City after Brexit?

The Brexit effect may soon overturn its heavy impact on the labor market in London. While the UK economy is likely to fall into a recession, the employees of the City dearly the outcome of the referendum, with results that range, at best, from moving to another EU country to job loss.

Credit Suisse titled "Mayday! Mayday! "His latest note to clients in which he speaks of the danger of loss of well 500 thousand jobs because of Brexit. The feeling of the Swiss bank, also shared by many other analysts, is that the UK will end in recession as a result output by the European Union.

Andrea Orcel, UBS' boss, it is not unlikely that, as a result of Brexit, the institute decides "in all probability move a good number of employees" who are now in London to "transfer to another EU country European. "

The UK Treasury is trying to put pressure on banks to remain calm and continue to do their business as if nothing had happened. But Orcel himself admitted, the issuer Bloomberg American television, that if the rights to provide services to EU customers from the UK and to make transactions in Euros will be revoked, a "significant proportion" of 5000 employees of the bank in London will make the bags, although UBS will not leave, however, the United Kingdom.