Germany could change the laws to enhance the attractiveness of Frankfurt to London banks

The German government is considering changes to the labor laws in order to increase the attractiveness of Frankfurt for banks that want to translate the offices of London after the Great Britain from the European Union (Brexit), writes the Financial Times.

According to informed sources, Berlin may limit the upper limit of the law protected workers' wages at the level of 100 thousand. Euro 150 thousand. Euros per year, which, among other things, make the dismissal process in the financial sector are cheaper for employers.

Meanwhile, bankers in London told the newspaper that in recent weeks the German delegation, advertised in the British capital advantages of Frankfurt as an international financial center, has included the changes in the labor law package proposals.

However, over the weekend leading Wall Street , the European headquarters of which are now based in London, announced that soon will take part of the European operations in New York, than translate them into the euro zone. According to general director of Morgan Stanley (NYSE: MS) James Gorman, his bank while exploring the need for the headquarters in the euro area, but apparently, "All wins New York".

According to the FT analyzed data currently Frankfurt is second only to London among the European cities with the highest level of financial services.

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