Clearing off - London set to lose vast deal-settlement trade

[barryqwalsh]

Barely a day had passed following Britain's vote to leave the European Union when officials from elsewhere in Europe began to lay claim to a key part of London's financial industry.


The location of clearing houses for trades done in euro has emerged as one of the first flashpoints in the looming divorce talks between the UK and EU. French and German politicians agree the business could be taken from London, with Paris or Frankfurt being mentioned as possible new homes. But don't count London out just yet.


Clearing off - London set to lose vast deal-settlement trade - Independent.ie

 

[baileyn45]

Barely a day had passed following Britain's vote to leave the European Union when officials from elsewhere in Europe began to lay claim to a key part of London's financial industry.


The location of clearing houses for trades done in euro has emerged as one of the first flashpoints in the looming divorce talks between the UK and EU. French and German politicians agree the business could be taken from London, with Paris or Frankfurt being mentioned as possible new homes. But don't count London out just yet.


Clearing off - London set to lose vast deal-settlement trade - Independent.ie

I have to wonder if the EU countries really want to start economic battles with the UK. The Brits responding in kind would do some serious damage to German manufacturers as well as others.