Bonds
Another Brexit casualty: EU bailout fund starts selling bonds under Luxembourg law
Disputes involving new bonds would be heard in Luxembourg
The first bond governed by Luxembourg law issued by the euro area's bailout fund has hit the market, another sign of how the impending plans for Brexit might reduce London's sway over the financial industry.
The European Stability Mechanism (ESM) on Friday symbolically marked the move to stop issuing bonds governed by English law in a bell-ringing ceremony at the Luxembourg Stock Exchange.
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