Bank of America, Citigroup and Morgan Stanley sees Ireland as a favorable location for some of its European business if they have to move them from London.
The plans are still at an early stage, but the bank people as Financial Times talked to say that American banks are preparing themselves for the euro zone’s looming banking union that threatens to isolate Britain, and finally, a possible British withdrawal from the EU.
UK Conservative Prime Minister David Cameron has promised a referendum on the country’s EU membership if he wins the election next year. Banks, insurance companies and money investors have expressed fears about the scenario, often called Brexit.
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