LONDON - The eurozone’s top banking groups have demanded long-term access to London’s multi-trillion dollar derivatives trading market in a “fresh blow for Brussels’ plans to seize business from the City”, according to The Daily Telegraph.
A joint letter signed by organisations including the European Association of Co-operative Banks and the European Banking Federation argued that the bloc faces a “cliff edge” unless it extends exemptions that allow trades by European Union institutions to take place in the UK and other major markets.
