Brexit negotiations

EU said to refuse to budge on post-Brexit financial services

UK more likely to have restricted 'Canada' approach than wide-ranging agreement

bloomberg

31.01.2018

UK banks will have limited access to the European Union's single market after Brexit if the government refuses to weaken its red lines, the European Commission told diplomats, according to two people familiar with private discussions in Brussels.

While the British government is aiming for a wide-ranging agreement to give financial institutions full EU access, a restricted approach similar to that which Canada enjoys is the only viable option, Commission officials said in a presentation to representatives of the 27 remaining nations on Tuesday.