A damning report by Shearman and Sterling, a key adviser to market infrastructure entities such as exchanges and clearinghouses, reveals the EU should adhere to UK rules & regulations when it came to financial services after Brexit for their own good. The euro is a dysfunctional currency which is polluting the rest of the world with collateral risk, which The Bank of England is currently mitigating. The EU are not prepared to underwrite the euro and they are leaving it to the US & UK to manage this problem. The EU are effectively saying all is perfect and doubling down on the fiction.
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