Dr Markus Krall said it was wrong to assume “Europe will be able to do without London as a financial centre” as he said those predicting the move by bankers was “wishful thinking”. He said: “I believe a lot of it is wishful thinking.
“If you look at what was announced in the beginning that several tens of thousands of bankers will move from London to Frankfurt and Paris and Brussels.
“Of this less than one tenth has become reality so far. And I don’t think a lot more will happen.”
His comments fly in the face of French President Emmanuel Macron’s plot to lure 3,500 UK bankers across the Channel after Brexit.
After the EU exit vote Frankfurt-based banks also appealed to Britain’s bankers to make the move to Germany’s finance industry.
But Dr Krall said the EU’s economy would not be able to develop without the “know-how from London” as the financial district of Europe.
He told RT Deutsch: “It will also not be the case that Europe will be able to do without London as a financial centre.
“No matter who you talk to, everyone here in Europe says, no matter whether they work in politics or in banks, that we need to develop more capital market capabilities, we need to create more liquid capital markets in Europe.
“ I don’t see at all how they want to do it without the know-how from London.
“Therefore they will not be able to close the borders there or put up walls towards the financial service provider community in London. And therefore not a lot will change here.”
Dr Krall said Remainers who were warning of no deal Brexit chaos just wanted to “prevent” the UK’s exit from happening altogether.
He added: “The scare-mongering is of course coming from those who have an interest in preventing Brexit.
“There is a reason it is called Project Fear in England. This fear-mongering becomes apparent in politics over and over again, but if you listen to what will allegedly happen if England exits without a special EU deal, then you can just shake your head.
“The biggest fantasies are being released into the world without any scientific reasoning.
“It is simply released to scare people and some believe in it and if you then prove these statements wrong no one will listen anymore.”
Dr Krall also urged the UK to be “far, far away” when the EU’s economic “bomb explodes” as he warned the eurozone is heading for financial catastrophe.
Additional reporting by Monika Pallenberg