UK Wins Case Against ECB

Big victory for UK in case v European Central Bank, which banned clearing & settlement of euro deals from City http://t.co/ariT4hUv7j
— Robert Peston (@Peston) March 4, 2015

As per InfoCuria

THE GENERAL COURT (Fourth Chamber)

hereby:

1.      Annuls the Eurosystem Oversight Policy Framework, published by the European Central Bank (ECB) on 5 July 2011, in so far as it sets a requirement to be located within a Member State party to the Eurosystem for central counterparties involved in the clearing of securities;

2.      Orders the ECB to bear its own costs and to pay those incurred by the United Kingdom of Great Britain and Northern Ireland

Major win for UK & single market that #ECJ struck down @ecb location policy – unfair & had absolutely no place in our modern EU economy

— George Osborne (@George_Osborne) March 4, 2015