Legal guerrilla warfare is already under way and EU officials say privately that the struggle for control over the financial industry is reaching a critical point, with Britain rapidly key losing allies. The UK Treasury filed a case at the European Court in late 2011 to block ECB plans that would limit euro transactions by clearing houses if they take place outside EMU territory. It said large-scale euro contracts should come under the sway of the ECB, since no other central bank can issue the currency as a lender of last resort in an emergency.