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Brexit deal to end Britain's easy access to EU financial markets

Currently, inside the EU, banks and insurers in Britain enjoy unfettered access to customers across the bloc in all financial activities

Reuters  |  London 

The United Kingdom and the European Union have agreed a deal that will give London's vast financial centre only a basic level of access to the bloc's markets after Brexit. The agreement will be based on the EU's existing system of financial market access known as equivalence - a watered-down relationship that officials in Brussels have said all along is the best arrangement that Britain can expect. The EU grants equivalence to many countries and has so far not agreed to Britain's demands for major concessions such as offering broader access and safeguards on ...

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First Published: Thu, November 15 2018. 03:21 IST