EU negotiators want to stop the City accessing European markets after Brexit so they can steal business from Britain, it was claimed today.
Eurocrats apparently ruled out signing a trade deal which covers financial services after we quit the EU.
The EU is reportedly keen to hobble the City of London after BrexitAlamy Live NewsThey said they are keen to boost Europe’s own financial sector – which would mean hobbling the City.
Representatives of the other 27 EU members held a meeting this week, according to the Financial Times.
They agreed not to offer a “special deal” on financial services which would allow City banks to do business in European on the same terms as now.
A source told the FT that if the City shrinks after Brexit, other countries will get a boost to their finance sector.
Emmanuel Macron’s France is leading the group of hardlinersAFPBut the talks reportedly opened up a split between European states – with France leading the calls to be tough on Britain.
Other countries including Germany, Sweden and Luxembourg worry that damaging our economy will have knock-on effects on the rest of the continent.
If the City is denied full access to Europe, London-based banks will have to set up alternative HQs in cities such as Frankfurt, Paris or Dublin.
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Diplomats told The Sun last week that finance firms may be able to access the single market after Brexit – but only if Britain continues to pay huge sums into the EU budget.
They also warned that the UK would have to accept the rule of European judges in return for a special deal for the City.
One official said: “If we were to allow that, the price would be seriously substantial, otherwise other countries would say we want the same.”
This Post First Appeared On Latest Nigerian News Online | NewsSplashy
Eurocrats apparently ruled out signing a trade deal which covers financial services after we quit the EU.
The EU is reportedly keen to hobble the City of London after BrexitAlamy Live NewsThey said they are keen to boost Europe’s own financial sector – which would mean hobbling the City.
Representatives of the other 27 EU members held a meeting this week, according to the Financial Times.
They agreed not to offer a “special deal” on financial services which would allow City banks to do business in European on the same terms as now.
A source told the FT that if the City shrinks after Brexit, other countries will get a boost to their finance sector.
Emmanuel Macron’s France is leading the group of hardlinersAFPBut the talks reportedly opened up a split between European states – with France leading the calls to be tough on Britain.
Other countries including Germany, Sweden and Luxembourg worry that damaging our economy will have knock-on effects on the rest of the continent.
If the City is denied full access to Europe, London-based banks will have to set up alternative HQs in cities such as Frankfurt, Paris or Dublin.
MOST READ IN POLITICS
MIGRANT HANDOUTS
Eurocrats set to use cash from taxpayers to pay migrants’ rent
UKIP CV CURSE
Henry Bolton follows in former Ukip leader’s footsteps with false CV claims
RUTH IS NO.1
Ruth Davidson now voters’ front runner to replace Theresa May
BRITISH PRIDE
Defence Secretary calls for the removal of EU flags in MOD London HQ
GOOD AS GOLD
Theresa May vows Brexit will bring golden age of links with China
BBC BIAS
Brexit supporters under-represented on two key BBC shows since EU referendum
Diplomats told The Sun last week that finance firms may be able to access the single market after Brexit – but only if Britain continues to pay huge sums into the EU budget.
They also warned that the UK would have to accept the rule of European judges in return for a special deal for the City.
One official said: “If we were to allow that, the price would be seriously substantial, otherwise other countries would say we want the same.”
This Post First Appeared On Latest Nigerian News Online | NewsSplashy
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