EU: Financial Relations With UK Will Be Linked To Trade Deal

• 02.03.2020, 18:29
•  Europe

Access to the European Union market for Britain-based financial firms will be linked to the overall results of trade talks with London, EU chief negotiator Michel Barnier said on Monday, Reuters reports.

Britain and the EU will lose privileged access to their respective financial markets when the Brexit transitional period expires at the end of December.

But in some sectors financial firms could remain able to operate across borders if rules are deemed to be equivalent.

But even when equivalence does exist, the EU will remain free to grant access or not to specific sectors.