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GC Asia
Financial services face weaponisation as Brexit tension rises
The tension between the EU and UK over Brexit ratcheted up this week, with the prospect of the UK reneging on the EU-UK Withdrawal Agreement rearing up. Rising political tension could now boil over into talks on financial services.
The financial industry is no stranger to Brexit-stoked political tensions. Derivatives clearing has been one sector particularly affected by this. Since the 2016 Brexit vote, London-based LCH has had to contend with the EU’s attempts to prise its euro-denominated business away, to be done within its remaining member
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