The British government needs to provide more clarity and less ambiguity on Brexit for negotiations to succeed, French junior economy minister Benjamin Griveaux said during a visit to London on Wednesday.
Asked what impact a “no-deal Brexit” scenario would have on France, Griveaux told reporters that it would be felt by the whole of Europe, but would be even worse for Britain.
“If it goes wrong, it will go wrong for everyone,” he said.
Griveaux, who helped President Emmanuel Macron set up the En Marche political movement that propelled him to power in May, is part of the 39-year old leader’s inner circle.
He was in London to meet company executives, predominantly in the financial services industry, with a view to persuading them to move some of their operations to France after Brexit.
Griveaux declined to give details of any potential corporate moves, saying that it was for companies to make announcements about their own plans.
Griveaux said he was confident that Paris, which has been a minor financial centre dwarfed by London for decades, would be more prominent in future.
“In five to 10 years, Paris will be the first financial place in continental Europe,” he said. “London will remain an important and major financial place for sure.”
Source: Reuters (Reporting by Estelle Shirbon; editing by Guy Faulconbridge)