The Empire is flexing its muscles on a subject that really shouldn't concern it in any way--other than by way of the desire for global hegemony.
The United States has just warned European Union officials that forcing a lucrative London clearing business to Europe post-Brexit could result in an international financial trade war.
Christopher Giancarlo, acting chairman of the US Commodity Futures Trading Commission, said this week that Brussels' plan to control euro-clearing post-Brexit would "undoubtedly inform the evolution of US regulatory policy."
Giancarlo warned that the EU should proceed with "care."
"To date, the US has not deemed a body of water - even as large as the Atlantic Ocean - as an impediment to effective CCP [clearing house/central counterparty]supervision and examination," Giancarlo said.
A clearing house or central counterparty stands between two sides of a trade, ensuring its completion even if one side goes bust.
The EU revealed earlier this month that it is looking at whether euro-denominated clearing, an activity dominated by London, should be moved to the single currency area after Britain leaves the bloc in 2019.
(via The Daily Mail)