Amsterdam University’s Corpnet study unit conveys that both the United Kingdom and the Netherlands are the leading sources of funds for the proposed “sink financial centres”. “Sink financial centres” are jurisdictions whose function within corporate ownership chains are not equal to the smaller scale of their national economies.
The Netherlands was the selected conduit for corporate investments into the offshore “sinks” at 23%. The United Kingdom then follows with 14%, Switzerland 6%, Singapore 2% and Ireland at 1%. The Corpnet study unit also states that ¾ of the sink Offshore Financial Centres (OFCs) either have a past or current reliance on the UK.
By operating in such financial centres, it generates economic effectiveness and contributes to EU economic performance as a whole. According to the Economist, it is believed that London will continue to be Europe’s main financial centre post-Brexit. In addition, The President of the Regional Council of Île-de-France, Ms. Pécresse, views London as a peer and an opportunity for collaboration. And so, Pécresse believes that Paris’ main competitors inevitably are Amsterdam, Frankfurt, Luxembourg and Dublin.