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Brexit weakens EU's non-euro members

Their preference to stay outside the direct jurisdiction of the ECB is made more difficult now that they've lost a heavyweight

Published Mon, Jul 4, 2016 · 09:50 PM

Copenhagen

BRITAIN'S decision to leave the European Union will weaken the ability of the remaining non-euro members to shape financial regulation, according to Denmark's bank watchdog.

"We've lost a heavyweight in our camp," said Jesper Berg, director general of the Financial Supervisory Authority in Copenhagen. "They've always provided intellectual leadership, and they have close contact with a huge financial market, which helps them provide that leadership. That will be something that we'll miss."

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