UK financiers advocate maintaining access to a single market after Brexit

Representatives of the City of London want to convince the European Union to keep access for the British banks to a single European market after Brexit, and for this purpose, they plan to enlist the support of Belgium, Germany and Spain, the Financial Times writes. Financiers note that the EU’s chief negotiator for Brexit, Michel Barnier, expectedly criticized the British government’s proposals for the future of the financial services sector, since, in the case of Brussels’s acceptance of this option, London’s position as the world financial capital and its influence on further regulation of the industry in the EU may intensify. At the same time, American banks have warned the British government that financial companies will leave the country after Brexit, if taxes are not reduced.

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