No shit Sherlock! Are you trying to tell me that City bankers don’t have EU citizens’ best interest at heart, when they stroll toward their office every morning in the London fog?
They don’t have UK citizens’ best interest at heart either :)
Forcing clearing houses to relocate from London to Paris is part of French industrial policy and it has been going on (unsuccessfully) for half a century.
It’s got nothing to do with Brexit - they were trying this long before that happened (and the Single Market be damned - at one point the UK had to take the ECB to court for breaking the Maastricht Treaty over this). And it’s got nothing to do with the EU’s regulatory reach - market infrastructures in London and Paris are regulated along the same lines under the globally-agreed Principles for Financial Market Infrastructures, and the UK clearing houses already opt-in to direct EU regulation as third-country CCPs post-Brexit anyway.
This is purely about the French state again trying to use the EU as a mechanism to deliver their industrial policy. For French politicians this just has a weird totemic significance.
Well, presumably the whole “fuck everything European and fuck everything we agreed to do in international agreements” UK attitude during Brexit probably didn’t give the French and other EU countries a renewed trust in the UK.
but then how will everyone launder money?
There is still Liechtenstein.
