Victory for the UK as ECB abandons push to move euro clearing inside EurozoneThe ECB and the Bank of England yesterday announced “a series of measures aimed at enhancing financial stability in relation to centrally cleared markets within the EU.” The move will include “extending the scope” of the Euro/Pound swap lines between the banks. As part of the deal, the UK will drop its remaining cases at the European Court of Justice against the ECB push to move the clearing of euros inside the Eurozone. The move marks the end of the four year dispute and a significant victory …read more
Source: Open Europe