Correct poopscoop. any deal on financial services has been pretty much ruled out. LOndon cannot get better terms than new york or geneva have
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EU Referendum - are you in or out?
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Posted 4 hours ago #
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LONDON — The EU's chief Brexit negotiator has ruled out a free trade deal with Britain which includes financial services unless Britain remains in the single market, dealing a significant blow to the government's aim of securing a bespoke Brexit trade deal.
Speaking to newspapers including the Guardian, Michel Barnier said: "There is no place [for financial services]. There is not a single trade agreement that is open to financial services. It doesn’t exist."
Barnier said the result would be a consequence of "the red lines that the British have chosen themselves. In leaving the single market, they lose the financial services passport."
Posted 4 hours ago # -
Oh - and contrary to THMs fantasy in a quoted post we have not moved on to the second stage of negotiations yet
Nothing can happen on the second stage of negotiations - the difficult and complex bit until march. given that the easy bit took 18 months ( for May and co to cave in on every demand) then the idea we can negotiate a comprehensive bespoke trade deal in a year is simply ridiculous
Barnier was speaking three days after EU leaders agreed the UK had made enough progress on the Brexit divorce – citizens’ rights, the Brexit financial settlement and the Irish border – to allow talks on the future.
He said the next key moment would be an EU summit in mid-March, when EU leaders are due to sign off guidelines that will lay out red lines and hopes for the future. “I hope very much that we will have a clear position from the British government by this time.”
Posted 4 hours ago # -
new york or geneva
Both the US and Switzerland have equivalence in many fields
More rubbish in the Independent being corrected
Posted 3 hours ago # -
mefty - Member
new york or geneva
Both the US and Switzerland have equivalence in many fieldsGenuine question,
Do they have a good terms as London does at the moment within the EU?Posted 3 hours ago # -
Correct poopscoop. any deal on financial services has been pretty much ruled out. LOndon cannot get better terms than new york or geneva have
Not so TJ. Barnier has already said otherwise, see my earlier post on recognising uk regulations as equivalent to eu. No deal on financial services (financial and otherwise) means no deal at all means no money post March 2019. We won’t have full “passporting” and in fact nor should we, its not desirable imho. Not worth the trade offs.
EU want a deal on agriculture and UK want one on services. That will be the trade off / agreement. See TM’s trade deal priorities for the UK, services and manufacturing. EU’s priority is agriculture first and manufacturing second.
New York has no deal at all with EU on financial services. Switzerland has a bespoke one. Switzerland is a net exporter to the EU, UK a net importer. It makes sense for the EU to agree a “better deal” with UK on services than it does with Switzerland in order to get tariff free access to our market fpr other goods.
Posted 3 hours ago # -
Brexit caused 37 percent fall in new London financial jobs in December - report - Reuters
https://apple.news/AQJCVJStaSli6oB9byCJxqAPosted 3 hours ago # -
New York has no deal at all with EU on financial services.
Fair point, but New York isn't the financial capital of Europe either
Posted 51 minutes ago #
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