Reply to: Tory Brexit DOOM™: Bloodbath in the City

[Lambert Simnel]

... so why shouldn't LCH and others involved in euro clearing be directly regulated by the ECB?

Duh. Because we've taken back control, innit? So no way are we going to be subject to regulation by some unelected bunch of Euro technocrats.

[AtW]

If China would amend its constitution so that it would be possible for a part of China to leave it lawfully, then yes.

Correct answer is NO, because no country or club would want to encourage members leaving it.

[m0n1k3r]

Because UK is leaving EU, do you think if Hong Kong left China now it would get to clear bulk of Reminbi?

If China would amend its constitution so that it would be possible for a part of China to leave it lawfully, then yes.

[AtW]

Nobody should to have any trouble with this. Those involved in USD clearing in the City are directly regulated by the USA, so why shouldn't LCH and others involved in euro clearing be directly regulated by the ECB? I believe they are already directly regulated by China for clearing Reminbi.

Because UK is leaving EU, do you think if Hong Kong left China now it would get to clear bulk of Reminbi?

[m0n1k3r]

ECB bids for control over Euro clearing in threat to the City

Nobody should to have any trouble with this. Those involved in USD clearing in the City are directly regulated by the USA, so why shouldn't LCH and others involved in euro clearing be directly regulated by the ECB? I believe they are already directly regulated by China for clearing Reminbi.

[m0n1k3r]

Fine by me, we will insist by law all Sterling clearing and related instruments are cleared in London. Common sense 'innit?

Easy. Sterling clearing doesn't happen much anywhere else.

[stek]

Fine by me, we will insist by law all Sterling clearing and related instruments are cleared in London. Common sense 'innit?

"Just you, and your schoolboy politics, and your idiotically conceited faith in your own importance."

Sir Nigel Irvine...

[northernladyuk]

So protectionism then. Fight fire with fire.

You are funny.

[AtW]

Fine by me, we will insist by law all Sterling clearing and related instruments are cleared in London. Common sense 'innit?

Sure, it would make sense, only problem is that EUR is the only real other reserve currency in the world next to USD, where as Sterling isn't.

[DimPrawn]

And taking EURO clearing to run in a country that is subject to EU laws isn't?

Fine by me, we will insist by law all Sterling clearing and related instruments are cleared in London. Common sense 'innit?

[AtW]

Common sense.

And taking EURO clearing to run in a country that is subject to EU laws isn't?

[DimPrawn]

What do you call not agreeing with Freedom of Movement?

Common sense.

[AtW]

So protectionism then. Fight fire with fire.

What do you call not agreeing with Freedom of Movement?

[AtW]

So protectionism then. Fight fire with fire.

What you going to do - stop EU from clearing Sterling?

In case you failed to notice "free market" isn't exactly in favour at the moment, that's why big trade blocks appear, insane to be outside of one of them.

[DimPrawn]

The proposal follows a string of reforms published by the European Commission last week that called for Brussels to have the ability to force “systematically important” clearing houses to operate within the EU.

So protectionism then. Fight fire with fire.