A Black Day For Europe

james-rundle

It didn't come as much of a surprise to anyone that the European Commission blocked the planned merger of NYSE Euronext and Deutsche Börse earlier this week. Despite a furious round of lobbying by both parties, which included full-page adverts in the newspapers and letters to Commission president José Manuel Barroso, it hadn't seemed likely since the last round of remedies that it would go ahead.

The Commission cited concerns of a monopoly over the global trade in European derivatives, but that

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