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The UK is ranked the world's leading financial centre

In a surprise development the World Economic Forum (WEF) has today released a report stating that the UK has overtaken the United States as the world's leading financial centre. This comes at a time when the UK is under significant pressure from not only an economic standpoint but also from EU regulators who appear determined to wrestle control of the city. However, for the UK to come out top of the 55 most financially developed countries is certainly a feather in the UK cap although there are some who are sceptical of the claims.

The same report also detailed a league table of financial stability rankings with the UK at number 37 behind the likes of Mexico, Panama and only just above Venezuela. Norway, Switzerland, Hong Kong and Chile were top of the league with regards to financial stability with Argentina, Kazakhstan and Ukraine rooted at the bottom of the league table. While there is no doubt that the city of London is well known around the world and has a reputation few others can match, many believe that recent changes on the regulatory front and intervention by EU regulators will put London's standing amongst worldwide financial markets at risk.

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