Major British Companies Are Turning to Istanbul

The Turkish newspaper "Star" mentioned that Britain exit from the European Union will affect them and Europe negatively...

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2017-03-30 Last update 2020-02-13

Major British Companies Are Turning to Istanbul

The Turkish newspaper "Star" mentioned that Britain exit from the European Union will affect them and Europe negatively, while the benefit will be in favor of Turkey.

"Many large companies leaving London after the break-up from the EU will be heading to Istanbul, Turkey," said Simon Diankov, director of the markets group at London School of Economics and former Bulgarian deputy prime minister.

"I think Istanbul's financial infrastructure will make it a candidate to receive the procedures that are taken toward the Middle East, Eastern Europe and North Africa," he said.

Diankov said that London would lose more than 20 billion pounds, an estimated 15-18 percent of its revenue, 83,000 people lost their jobs and jobs would fall by more than 10 percent.

The newspaper said that it is expected that the separation of Britain from the European Union will affect negatively on it and Europe, while Turkey will be the first beneficiary of it.

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