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France says post-Brexit City of London must relinquish euro business


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Britain's City of London financial district would have to give up its role in processing euro currency transactions after it leaves the European Union, French President Francois Hollande warned on Wednesday. Hollande said other European financial centres should be ready to take over from London, which is home to many banking clearing houses that deal with euros. "There is no reason for Europe, and still less the eurozone, to allow a country that is no longer a member of the European Union and has never been a member of the eurozone to continue operations in euros," Hollande said after a summit in Brussels.

 

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