IMF warns EU exit risks London's status as financial hub

May 13, 2016 9:02 AM

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LONDON – The International Monetary Fund has warned that London's status as a global financial center would be jeopardized should Britain vote to leave the European Union in a June 23 referendum.

The global body that promotes financial stability says in a report Friday that the city's powerful financial services sector would lose clout because of the loss of so-called "passporting" rights. These rights allow professionals to work in any EU country, without seeking licenses separately. Such r...

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