Can the UK and EU cut a Brexit deal on financial services before March?

Bloc doesn't want London to be a low-regulation financial hub

With Brexit talks back from the summer holidays, it’s worth considering one way in which failure to reach a deal before the U.K.’s departure in March would also be bad for the European Union.

Such an outcome would unsettle the City of London, the motor of the British economy. But the danger for the EU is that Britain responds by emulating the U.S. in cutting taxes and deregulating. A low-regulation nirvana would go against the EU’s desire for a “level playing field” after Brexit, while also threatening financial stability in the other 27 member states -- just as the bloc is