A senior European official has stated that the European Union has no immediate plans to push for the euro-denominated clearing business of London clearinghouses to relocate inside the Eurozone. Speaking at an event in Washington, DC, Valdis Dombrovskis, the member of the European Commission (Commission) responsible for financial services, noted that among the many issues for discussion in the Brexit negotiations between the United Kingdom and the European Union, London clearinghouses are not the most urgent. Commissioner Dombrovskis nonetheless did not exclude the possibility of the issue arising for discussion in the future. Commissioner Dombrovskis is vice president of the Euro and Social Dialogue of the Commission, and recently replaced Jonathan Hill, of the United Kingdom, as Commissioner for Financial Services and Capital Markets Union, following Lord Hill’s resignation in the aftermath of the Brexit vote in late June.