EU cities should get ready to clear euro in place of London: Hollande

[WorldNews]

There is no reason for the City of London to remain a center for euro clearing if Britain leaves the European Union's single market, and other financial centers in the bloc should get ready to carry out these transactions, French President Francois Hollande said. "As soon as Britain leaves the European Union's single market, if it decides to do so, there will be no reason for the euro zone to allow a non-member country to continue carry out transactions in euro," Hollande said after a European Council in Brussels. "Where will these transactions go?

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