April 4, 2017 / 9:31 AM / 4 months ago

All euro business should be moved from London after Brexit -top lawmaker

1 Min Read

STRASBOURG, April 4 (Reuters) - All financial business denominated in euros should be moved from London to the European Union after Britain leaves the bloc, a top EU lawmaker said on Tuesday.

"People expect that we do the euro business and all the business which is linked to the euro on European soil," Manfred Weber, who heads the conservative grouping, the largest in the European Parliament, told a news conference in Strasbourg.

He declined to answer specific questions on whether this would involve the moving of clearing of euro-denominated, derivatives which is mostly conducted in London at the moment. (Reporting by Francesco Guarascio @fraguarascio; editing by Philip Blenkinsop)

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