AMSTERDAM TO SUCCEED LONDON IN BREXIT: NEW YORK TIMES

Amsterdam is most likely to take over from London as the financial capital of Europe in the wake of the Brexit, according to a ranking compiled by the New York Times. According to the newspaper, the Dutch capital’s only flaw is the Netherlands’ strict rules around bonuses.

The New York Times looked at numerous European capital and gave them a score out of 60 based on numerous categories, including English-language facility, proper transportation, availability of office space and quality of living – good schools, good restaurants and cultural offerings.

Amsterdam came in first place with 55 points. The newspaper lauds the Dutch capital for its English-speaking capabilities – “Not only do 90 percent of the Dutch speak English, many speak it better than the English itself” – its schools, its beautiful architecture and housing options, excellent restaurants, night life, music, theater and “a cosmopolitan and tolerant attitude cultivated over centuries as a major global trading center”.

Other points in Amsterdam’s favor include its excellent transport possibilities with Schiphol airport connecting it to the world and the rail network connecting it to major European capitals.

The Dutch capital lost points for capping its bonuses at 20 percent of annual salary following the financial crisis. Several bankers told the American newspaper that they would not consider moving to Amsterdam unless that cap is repealed. “I’d love to relocate to Amsterdam”, one executive said to the newspaper. “But I don’t think we’re wanted there.”

The rest of the top 9 possibilities for succeeding London, according to the New York Times, are: Frankfurt with 54 points, Vienna with 51 points, Dublin with 50 points, Paris with 43 points, Luxembourg with 40 points, Warsaw with 24 points, Milan with 24 points and Barcelona with 23 points.

Published: http://www.nltimes.nl/2016/07/01/new-york-times-amsterdam-likely-successor-london/

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