Up to 100,000 UK Jobs At Risk as Merkel and Juncker Ally Warns on Euro Clearing

THE GUARDIAN: EU lawmaker Manfred Weber says sector must relocate out of City of London after Brexit

The future of an estimated 100,000 jobs has been plunged into doubt after a close political ally of the German chancellor, Angela Merkel, and president of the European commission, Jean-Claude Juncker, warned that a prized sector in the City of London must relocate to EU soil after Brexit.

Manfred Weber, the leader of the largest political group in the European parliament, to which both the German chancellor and the commission president belong, told reporters that euro-denominated clearing could no longer be undertaken in the City when the UK leaves the EU.

“EU citizens decide on their own money,” Weber said during a press conference in Strasbourg on Tuesday. “When the UK is leaving the European Union it is not thinkable that at the end the whole euro business is managed in London. This is an external place, this is not an EU place any more. The euro business should be managed on EU soil.” Read on and comment » | Daniel Boffey | Tuesday, April 4, 2017

Stay Out of EU Affairs, Leading MEP Tells British Government

THE GUARDIAN: Manfred Weber warns UK not to meddle in bloc’s post-Brexit business as he criticises Boris Johnson’s ‘unbelievable arrogance’

The British government has been given a blunt warning to stay out of the EU’s post-Brexit business by a senior leader in the European parliament, who lambasted Boris Johnson for his “unbelievable arrogance” and insisted Britain would have “no say any more” in the long-term future of Europe.

Manfred Weber, the leader of the largest centre-right group in the European parliament, criticised the British foreign secretary for his support of Turkey’s EU membership, which has infuriated European politicians. » | Jennifer Rankin and Rowena Mason | Tuesday, November 22, 2016