Alan H wrote:Let me try again. I'm not asking about the USA or saying the EU couldn't have passporting rights with, say, the Democratic Republic of Congo, or whoever, but my question was: why would the EU want the capital market for the EU in a third country? Why bother with setting up a completely new passporting system when they don't have to?
OK, then let me try again!
We keep on being told how wonderful the EU is for trade, because we should, as far as possible, remove barriers to trade. What we have here is a deliberate restraint of trade. The EU is not trying to expand trade, but to impede it, making it less efficient. They are deliberately, unnecessarily and vindictively putting new barriers in place. It's on a par with, say, banning BMW's not built in the UK.