Britain Overtakes US as Worlds Top Financial Center

October 8, 2009 Share Print 1

The real surprise was Australia, who jumped 9 places to finish second, one place ahead of the United States at third.

Britain has toppled the United States from its position as the world’s leading financial centre, according to the latest league table from the World Economic Forum, but the gloss was rubbed off the victory as the UK scored worse than Nigeria, Panama and Bangladesh for financial stability.Economic output nudges back into positive territory

Britain was elevated from second to first place, while the US dropped to third place in the overall rankings, with both countries scoring less well than last year as the financial crisis exposed their weaknesses.

Australia rose nine rungs to second place, while Singapore and Hong Kong also did well, rising to fourth and fifth place respectively. France and Germany were both relegated out of the top ten.

Times Online

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.