EU's Brexit Negotiator: Britain Cannot Have a Special Deal for London

• 12.19.2017, 11:17
•  Europe,  World

Britain cannot have a special deal for the City of London, the European Union’s chief Brexit negotiator has told the Guardian, The Guardian reports.

Michel Barnier said it was unavoidable that British banks and financial firms would lose the passports that allow them to trade freely in the EU, as a result of any decision to quit the single market.

"There is no place [for financial services]. There is not a single trade agreement that is open to financial services. It doesn’t exist." He said the outcome was a consequence of "the red lines that the British have chosen themselves. In leaving the single market, they lose the financial services passport."