Blockade or blunder? Enigma of EU cross-border trading ban

Drafting errors and lawmaker’s comments leave industry perplexed about controversial new rules

Downplaying an ill-judged move is a regular occurrence in political circles. And the European Commission is no exception. It currently finds itself having to row back on controversial proposals it released last October that would ban “core” banking activities from outside the EU.

A major problem of the rules is that their definition of “core” appears to extend to almost every cross-border financial deal entering the union. But three separate sources say the lawmaker has been downplaying the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here