Top German central banker Andreas Dombret says he wants a “pragmatic” Brexit
A top German banking executive has said he wants a "pragmatic" Brexit, playing down claims that other member states are looking to punish the UK for voting to leave the EU.
Various cities across the EU have been vying to steal away pieces of London's financial sector, as many in the industry fret about what access rights for the Single Market they can hope to retain post-Brexit.
Now, Dr Andreas Dombret, executive board member for the German central bank, the Bundesbank, has told the BBC the Leave vote should not be used as an excuse to "penalise" the City, noting that, although some jobs might be lost, London would remain "the most important financial centre in Europe".
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He added: "I see it as my job to make sure the transition is as smooth as possible, and we, I can promise, will be as pragmatic as possible."
Dombret also echoed a sentiment others in the financial sector, including Bank of England governor Mark Carney, have voiced recently; that a bad Brexit deal could hurt the EU just as much, if not more, than the UK.
"I see risks not only for London; I see risks for Germany and for the rest of Europe, should there be an impact of Brexit on economic circumstances it will not be concentrated on Great Britain, it will be also in the rest of Europe," he said.
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Dombret also added that Europe may not be able to pick up all of the fallout of London's financial sector anyway, indicating that he thought some jobs might head across the Atlantic.
Back in October, Jon Cunliffe, deputy governor with responsibility for financial stability at the Bank of England, revealed he too thought cities like New York could potentially gain more from Brexit than European hubs like Frankfurt, Paris and Amsterdam.
"They may not all necessarily go to Europe, maybe some of those job losses could go to the United States," Dombret said.
Today's comments are a stark contrast to some of Dombret's previous remarks. Only last month, the German central banker sniped that London would lose its status as "gateway to Europe" for the financial services sector.