Towards Financial Autonomy

The Geopolitical Economy of EUR-Denominated Clearing Services Relocation

Bibliographic Data

ID7785152
AuthorsAlexandru-Stefan Goghie (0000-0002-8763-2611, Freie Universität Berlin, corresponding author)
Year2025
Volume30
Issue2
Pages679-703
Publication date2025-03-15
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueGeopolitics (JOURNAL)
Journal identifiersISSN: 1465-0045 • E-ISSN: 1557-3028
PublisherInforma UK Limited (PUBLISHER • GB)
DOI10.1080/14650045.2024.2379313
OpenAlexW4400776943
LanguageEN
Citations received2
References cited42

This paper examines the factors influencing the relocation of EUR-denominated clearing services back to EU central counterparties (CCPs) by the European Commission. It adopts a novel security-centred approach to analyse this decision within the context of a fragmented geopolitical arena marked by uneven development in financial centres. Using the theory of Geopolitical Economy (GPE), this paper examines the implications and risks associated with financial dependencies and the pursuit of autonomy in the global financial landscape. It specifically addresses the risks posed by the dominance of UK CCPs, such as London Clearing House (LCH), in EUR-denominated clearing services and emphasises the EU's need to bolster its financial autonomy and stability, mitigating these intricate risks in this process. Through this analysis, the paper contributes to the existing literature by offering a novel understanding of the geopolitical-economic factors influencing regulatory actions within financial services

Autonomy · Business · Clearing · Financial services · Financial system · Geopolitics · Political science · Relocation · Computer Science · Global Financial Crisis and Policies · Global Financial Regulation and Crises · State Capitalism and Financial Governance · Finance

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