After the pandemic, the war on its doorstep sounds like a wake-up call for Europe on issues of economic sovereignty.
In particular for the financial markets, sinews of the war of the industrial strategic autonomy called for by Emmanuel Macron.
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“Europe is no longer naive. War pushes us to focus on what's important and make sure our system is responsive. If we take the need for better financial infrastructure and supervision seriously, the opportunities are there. The investment needs in our economy, in the climate or in digital technology, are enormous,”
said Mairead McGuinness, European Commissioner for Financial Services, in an interview with
Le Figaro
on Saturday in Paris.
In concrete terms, this means that Europe will have to mourn its dependence on British clearing houses.
This is one of the great failures of post-Brexit European finance, so far.
If, at the beginning of January 2021, almost all…
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