Rivals eye Britain's EU passport to riches

London

A FRENCH president taking an interest in the arcane world of financial plumbing is a sure sign of how Britain's neighbours plan to exploit its vote to leave the European Union (EU).

Political skirmishes over clearing euro-denominated securities go to the heart of what's at stake for Britain as it prepares to negotiate new trading terms with Europe.

Passporting rights, free movement of people and single market access are among the EU buzz words uppermost in the minds of UK-based bankers, telecom executives and airline owners who want to preserve market shares built up over decades.

Getting it wrong could, for example, see London shrink as a global financia…