We take note of the decision of the people of the United Kingdom to leave the European Union. While we are disappointed about this outcome, we respect their democratic decision to do so. This decision will create challenges for both the United Kingdom and the EU.

The EU’s financial services sector is strong and the development of the single market in financial services will continue unimpeded despite this decision. As one of the leading financial centres in the EU, Luxembourg will continue to play a central role in the strengthening of Europe’s financial services sector to ensure that it delivers capital and investment to companies to stimulate growth and job creation.

At the same time Luxembourg’s financial sector is determined to pursue, within this new context, its strong working relationship with its partners in the United Kingdom and the City of London in particular, which has delivered many mutual benefits in recent years.