chapter  5
17 Pages

Brexit and the City of London

The revenge of the ultraliberals?
ByLeila Simona Talani

This chapter explores how the "pragmatic adaptation", relying on the friendly regulatory and economic policies enacted by the British Government, will help the City of London adapt to the challenges of globalisation and the changing nature of British relation with the European Union (EU). It also explores the theoretical foundations of the notion of pragmatic adaptation and discusses with reference to the relevant literature. The chapter analyzes the success of the City of London during and after the Global Financial Crisis with reference to the notion of pragmatic adaptation. It then explores the challenges and opportunities that globalisation poses to the City of London. Finally, the chapter explains how the City of London is likely to use pragmatic adaptation to respond to the challenges of Brexit and how this will affect the British economic structure, especially in the case of an "hard" Brexit.