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Behind the scenes, FX industry prepares for euro break-up
Before the euro's launch in January 1999, the Bank of England issued a 110-page plan - everything from settlement timetables to roadworks on the big day - to ensure a smooth introduction of the common currency in the world's largest financial centre. The plan was among quarterly reports, complete with euro-themed cartoons by the BoE's resident artist, issued by the bank from 1996 to 2002 to iron out bumps as euro zone members abandoned their old currencies. Britain stayed out. Fast forward to 2012 and banks and brokerages in London are quietly preparing for a more unpredictable but potentially more destabilising ... (full story)
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