They changed their minds faster than market research predicted, and as a direct result banks are struggling to catch up. But it's already far too late for some, as non-banking competitors race ahead with a wide range of well developed digital products and alliances. Another example has been the London Liffe Market alliance with Frankfurt announced in July, precipitated by the sudden loss of the Bund contract. British soundings from the market had suggested that London's position would be reasonably secure, although with strong competitive pressures. This whole process has been precipitated by many factors, but one was undoubtedly the failure by London to recognise that polls don't predict the future .
People change their minds when they catch a taste of tomorrow.
The next decade will see mega-shifts as we turn our backs on a previous decade's values, as well as on a whole century and a millennium. Every decade has its character, music, fashion, architecture and culture. The 60s, 70s, and 80s were unique and distinct. Each a reaction against the past. But the 2000s is not just another decade nor the 21 st century just another century.