Those against say that London could make a killing as an offshore market as it did with the eurodollar market in the 1970s.

ECONOMIST: Europe��s monetary union

New York could lose some of its international standing with heavy handed regulation of the sourt that led to the off-shore Eurodollar market.

FORBES: Will London Survive As A Financial Centre?

In the latter regard, the Boston Globe recently put a spotlight on a major public policy issue that has been ignored by virtually every other newspaper in the United States: the ominous financial, political and strategic implications of Moscow's incipient bid to market bonds on the Eurodollar market .

CENTERFORSECURITYPOLICY: Center For Security Policy