Foreign banks play down euro importance to City

UK - Foreign banks operating in London believe that the City's success does not depend on the euro.

An in-depth survey of overseas banks with London operations found the euro was irrelevant to the City's position as Europe's pre-eminent financial centre.

The survey, by Radley & Associates, the management consultants, found that banks were attracted to London because of the large market, the tax and regulatory systems and the large skill base.

However, the survey showed many banks have weak risk

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