UK: Suggestion for 'Banking Equivalence' Rejected by EU.

As published on luxtimes.lu, Wenesday February 12, 2020.


The European Union swiftly rebuffed calls from the UK government that London's financial services firms should enjoy continued access to the single market even if the country breaks away from the bloc's rules after Brexit.

The UK Treasury had included the demand for so-called permanent equivalence in a draft of its opening positions for next month's trade negotiations with the EU – some of which were revealed in a document that was photographed as chancellor of the exchequer Sajid Javid carried it in Downing Street on Monday.

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