Recent events may have shaken confidence in the London financial markets, but the most powerful man in global finance is unconcerned by the blip.
“London has stayed on top in the provision of financial services despite the emergence of the euro,” says Federal Reserve chairman Alan Greenspan. “If traders can congregate almost anywhere electronically, we might expect traditional patterns of exchange to be dispersed. However, history, together with London’s long – should I say sterling – reputation as a place to do business, seems to have spurred market participants to continue to trade through London.”
