Paris is trying to lure British financiers to leave London for the City of Lights with this advert. Apart from the reality that London has fog about as often as Paris there are some other problems with financiers moving to the continent. Here is a list:
- London has 41% of the foreign exchange market, Paris 3%. London trades more €uros than Paris, Frankfurt and Milan combined. The numbers for all other sectors of finance are similar. Bonds, equities and derivatives trading are centred on London. More funds are managed in London’s glitzy West End than Paris, never mind the Square Mile itself or Canary Wharf.
- Charles De Gaulle airport will have you wishing for the joys of Heathrow.
- The French bureaucracy is legendary, French labour laws explain why so many French entrepreneurs come to London to start-up.
- Socialist France’s taxes explain why there are some 300,000 French men and women working in London.
- Everything shuts early, for lunch, on Sunday, on Sartre’s birthday, whenever you need something urgently.
- Property in Central Paris is nearly as expensive as Central London. Paris rents are the second highest in Europe.
- Parisians are famously rude to foreigners, to the point of racist.
- Paris smells of urine.
Paris is great for a romantic weekend, London’s real rival for the financial capital of the world is New York…