{"id":16734,"date":"2025-04-13T14:32:11","date_gmt":"2025-04-13T14:32:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/16734\/"},"modified":"2025-04-13T14:32:11","modified_gmt":"2025-04-13T14:32:11","slug":"brexit-reset-tested-as-brussels-and-london-fight-about-finance-politico","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/16734\/","title":{"rendered":"Brexit reset tested as Brussels and London fight about finance \u2013 POLITICO"},"content":{"rendered":"<p>After its attempts to shift more clearing activity away from London\u2019s dominant LCH and ICE Clear Europe to European clearinghouses fell flat, Brussels extended its recognition of U.K. clearinghouses to 2028 in a fast-tracked process which has caused <a href=\"https:\/\/pro.politico.eu\/news\/193367\" target=\"_blank\" rel=\"noopener\">political drama<\/a> in the EU capital.<\/p>\n<p>Although British officials are pleased to have some relief from a looming mid-2025 deadline, they\u2019re not happy that the 2028 date has, in the words of one U.K. official, \u201cjust created another cliff-edge\u201d which will need to be re-negotiated in a few short years.<\/p>\n<p>Happily ever after<\/p>\n<p>On both sides of the Channel, politicians are desperately trying to prove to voters that they can grow their respective economies \u2014 with Reeves and her Prime Minister Keir Starmer <a href=\"https:\/\/www.politico.eu\/article\/britain-tells-regulators-to-go-easy-on-regulation-actually\/\" target=\"_blank\" rel=\"noopener\">even using Britain&#8217;s sluggish growth as a stick to whack the watchdogs<\/a> with, and each side more intent on protecting their own industries from possible Trump tariffs.<\/p>\n<p>So despite potential cracks in the relationship, the regulators have more in common than do their political masters: Both are more focused on financial stability than on \u201ccompetitiveness,\u201d despite political leanings toward the latter, the senior EU official said.<\/p>\n<p>&#8220;We&#8217;re not Pollyanna. We know this is going to be a long road, but are we seeing a small movement in terms of positive and constructive engagement? I think we can say yes,&#8221; said one City lobbyist, granted anonymity to speak freely.<\/p>\n<p>Meanwhile, another City of London lobbyist argued that Wednesday&#8217;s meeting will be a chance to air any grievances.<\/p>\n","protected":false},"excerpt":{"rendered":"After its attempts to shift more clearing activity away from London\u2019s dominant LCH and ICE Clear Europe to&hellip;\n","protected":false},"author":2,"featured_media":16735,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5226],"tags":[3427,11328,802,748,2437,6641,32,2000,299,5187,1699,474,7558,4882,4884,1195,806,807,2441,3209,619,2444,1199,6647,16,15,49],"class_list":{"0":"post-16734","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brexit","8":"tag-banking","9":"tag-basel-iii","10":"tag-brexit","11":"tag-britain","12":"tag-companies","13":"tag-competitiveness","14":"tag-donald-trump","15":"tag-eu","16":"tag-europe","17":"tag-european","18":"tag-european-union","19":"tag-finance","20":"tag-financial-services","21":"tag-financial-stability","22":"tag-great-britain","23":"tag-growth","24":"tag-industry","25":"tag-keir-starmer","26":"tag-markets","27":"tag-payments","28":"tag-rachel-reeves","29":"tag-regulatory","30":"tag-services","31":"tag-stability","32":"tag-uk","33":"tag-united-kingdom","34":"tag-united-states"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114331146239037097","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/16734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=16734"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/16734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/16735"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=16734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=16734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=16734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}