U.S. shutdown creates EU swaps uncertainty

10/2/2013 | Bloomberg Businessweek

EU Internal Market Commissioner Michel Barnier says the U.S. government shutdown has hurt EU efforts to receive exemptions from rules for swap-execution facilities that took effect Wednesday. "We can't, of course, tell European companies exactly or directly what they should do with respect to the American rules," said Chantal Hughes, Barnier's spokeswoman. "What I can say is that we at our end will continue to work with the Americans to find a solution on the issue of cross-border swaps."

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