Ironically, Brexit is encouraging EU27 markets to look at deregulating some parts of their economies. Germany’s Volker Bouffier, vice chair of Merkel’s CDU, for example, is reviewing labour laws in a bid to encourage bankers to move there. We expect to see a more ‘Anglo-Saxon’ model in some sectors on the continent – though the absence of a British brake on statist intervention will be felt more keenly elsewhere. 

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