Publisher's Synopsis
This publication is part of a set of 18 documents which have been prepared by H.M. Treasury to inform the assessment of the Government's five economic tests for Economic and Monetary Union (EMU) entry into the euro area. With regards to the fourth test, this study considers the factors that drive the location of financial activity and examines emerging trends in the financial services sector. It focuses on the cluster of wholesale financial services activity in the City and the relative impact of currency on the competitiveness and location of services. It is essentially backward looking and concentrates on the performance of the City to date.
