ABSTRACT
Species, races, even nations struggle to survive and financial centres are no exception. London became the first financial centre to survive the decline in its own currency. London had re-emerged in a dominant position within a decade and a half of the end of the war and has continued to survive even in a period when financial centres have blossomed as never before. A variety of financial centres, old and new, became linked together partly through bank branches, partly through the use of new Eurocurrency techniques. Leading banks flocked to the main money centres such as London, New York, Zurich, Paris, Tokyo and Frankfurt. London's communications, both transport and telecommunications compare well with rival centres. With ingenuity, contacts, a large slice of luck, some inept decisions by the US monetary authorities and the development of the Eurocurrency markets, London managed to fill the gaps in her armoury.
