, Columnist
Nobody Wants This Brexit Power Grab
The EU's draft legislation isn't a straightforward power grab.
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The headlines liken it to a "raid" or a "power grab." But the European Union's threat to repatriate euro clearing away from London is starting to look like a headache nobody actually wants to see happen. Which, all told, is probably a good thing.
On Tuesday, EU Commissioner Valdis Dombrovskis unveiled the legal framework of how the bloc plans to supervise derivatives-clearing firms after Brexit.