London's mountain of money

Columnist Camilla Cavendish comments on the increasing affluence taking over London. "The internet is driving globalisation: India and China are booming; capital markets have gone global. This is one of those shifts that sends great geysers of wealth shooting up. A lot of people who are standing in the right place are getting drenched in cash. And one of the right places to stand is the City of London. The City is a phenomenal driver of growth in the British economy. It is a tribute to its success that so much international talent wants a slice of the action. I realised recently that so many of our French and American friends have moved to London that we can no longer cadge a bed for the night in Paris or New York. They in their turn are boggled that London is so expensive. But of course the one is partly responsible for the other."

» full article (external link, German)
More from the press review on the subject » Consumers, » United Kingdom
All available articles from » Camilla Cavendish

» To the complete press review of Thursday, October 12, 2006