Britain on Monday dismissed as "mischievous" a suggestion by France's top banker that much of the euro trading currently conducted in London should be moved inside the single currency zone.
Christian Noyer, the governor of the Bank of France, has called for the British capital to be deposed as the biggest centre for euro trading, saying there is no rationale for the bulk of business being conducted in a country that opted out of European monetary union.
British Business Secretary Vincent Cable, on a visit to France for talks with ministers and business leaders, was withering in his response.
"It rather contradicts what I've heard from serious French bankers," he said. "They take the view that a strong British finance centre is good for Europe."
Read more: Britain slams French criticism of London's financial dominance - UK - FRANCE - FRANCE 24
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