m551sheridan
Active member
UK’s euro trade supremacy under attack
By Josh Noble in Hong Kong and Alex Barker in Brussels
December 2, 2012 9:33 pm
Financial Times
The City of London should be deposed as the euro’s main financial centre so the single currency club can “control” most financial business in the eurozone, France’s central bank governor has said.
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“Most of the euro business should be done inside the euro area. It’s linked to the capacity of the central bank to provide liquidity and ensure oversight of its own currency,” Mr Noyer told the Financial Times while touring Asia to promote Paris as a renminbi trading centre.
“We’re not against some business being done in London, but the bulk of the business should be under our control. That’s the consequence of the choice by the UK to remain outside the euro area.”
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Read more at ft.com ...
sounds as if *socialist* France would rather control the purse strings?
By Josh Noble in Hong Kong and Alex Barker in Brussels
December 2, 2012 9:33 pm
Financial Times
The City of London should be deposed as the euro’s main financial centre so the single currency club can “control” most financial business in the eurozone, France’s central bank governor has said.
<break>
“Most of the euro business should be done inside the euro area. It’s linked to the capacity of the central bank to provide liquidity and ensure oversight of its own currency,” Mr Noyer told the Financial Times while touring Asia to promote Paris as a renminbi trading centre.
“We’re not against some business being done in London, but the bulk of the business should be under our control. That’s the consequence of the choice by the UK to remain outside the euro area.”
<break>
Read more at ft.com ...
sounds as if *socialist* France would rather control the purse strings?