EU's euro-strategy bodes ill for City of London

BRUSSELS, 19 Jan. - (ANA)  - The EU should protect its companies from other countries' sanctions, better enforce its asset-freezes, and encourage more euro-denominated trading, according to a European Commission paper due Wednesday, seen by Reuters.

EU officials should also look into "possible technical issues" in helping traders of complex financial products, such as derivatives, move from London to Europe.

The strategy comes after the US threatened sanctions against EU firms involved with Russia and Iran.  - (ANA) -

AB/ANA/19 January 2021 - - -