Michel Barnier rebuffs UK's hopes for financial market access

Pedro Gonçalves
clock • 3 min read

The European Union has warned ministers not to "kid themselves" over the freedom which the City of London will have to operate in EU markets in a post-Brexit trade agreement. The EU's chief Brexit negotiator, Michel Barnier, said London should be "under no illusion" on financial services as there would be "no general, global, permanent equivalence" with Britain. "There will be no common management," Barnier told the European Parliament in Strasbourg. His words came shortly after it emerged the UK would be seeking a "permanent equivalence" regime for financial services that would la...