So, it seems UK and Europe are not quite in total harmony with regard to implementing new financial regulations.
The unprecedented legal action underlines the depth of ministerial concern over the ECB policy, which comes as the UK engages in a turf war with France and Germany over Europe’s financial markets infrastructure.
This is about London Clearing House (LCH), and an European white paper stating any clearing house handling more than 5% of Euro denominated financial products must be located in the EuroZone.
Britain to sue ECB over treat to city (from FT, just out)
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