The Influence of the European Economy on the Financial Sector of the United Kingdom

The Influence of the European Economy on the Financial Sector of the United Kingdom Name Institution Abstract The financial sector of the UK is relatively stronger than its counterparts in the EU and those outside its bounds. To ensure its ranking with growing global economies, the sector has to distinguish itself from the blend of economies formed by the EU to expand its limits. The EU contributes significantly to the trading in the sector, while the UK admits other parties into the EU through its market. This dependence has resulted in a catch-22 following Brexit and other developing relationships within the financial sector of the UK. The effect of the EU on the UK’s financial sector is bound to change, and the reaction economy of the UK to it is still impartial. A stronger relationship with the EU strengthens the UK financial sector on the European Economic Community market. However, dissociation from the EU promises renewed partnerships with upcoming industry leaders that promise sustainability and growth rather than bureaucratic rigidity. Keywords: United Kingdom, financial sector, European Union Introduction Contemporary times have interlaced the workings of the economies of global nations. The resulting chaos presents unprecedented advantages and disadvantages to the participating nation states. In Europe, a shared history has cultured a synchronized economy that responds to changes in market positions across the entire continent. The splendour of centuries past circulates within the created value…

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