EU should aim to maintain London's financial hub status: Schaeuble

Wolfgang Schaeuble, Germany's finance minister
Andrew Harrer | Bloomberg | Getty Images

The European Union will need time to firm up its own financial services sector so it needs to ensure that London's role in the sector is not compromised even after Brexit, German finance minister Wolfgang Schaeuble said on Thursday.

"I am totally aware and convinced that Europe as a whole... we have our own interest, even after Brexit, to have a strong financial centre in London," Schaeuble, speaking English, told a conference in Frankfurt.

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