Dijsselbloem warns the U.K for turning into a tax haven
Jeroen Dijsselbloem warned Britain not to “take a crazy backward step” on Tuesday.
In an interview with the Dutch RTL, the President of the Eurogroup said that turning Britain into a tax haven would hurt both Britain and the EU.
“It would be bad for Europe, but also bad for England, bad for the United Kingdom, to end up as a kind of tax paradise,” Dijsselbloem said.
The Dutch finance minister said that a number of banks and financial institutions are looking to relocate to the Netherlands, despite strict Dutch rules on banking bonuses.
Amsterdam has joined Paris, Frankfurt, and Dublin in seeking to take some of the business of London as a financial center.
Frankfurt is looking at Euro-clearing, Dublin is already welcoming a number of insurance companies, while Paris and Amsterdam are attracting some of the business of major international banks.