Gieve calls for BoE leading role in European diplomacy

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John Gieve addresses the SWIFT Business Forum London 2013

John Gieve, a former deputy governor of the Bank of England (BoE), believes the Bank of England should lead diplomatic efforts to reach agreement with the European Union over financial regulation.

Gieve describes the UK's legal actions against the European Commission and the European Central Bank, over attempts to force clearing houses dealing with large euro transactions to move within the eurozone and the proposed financial transactions tax, as "extraordinary".

He said the UK is "outvoted" on

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