France Rejects Britain's Plan For Banks To Access EU After Brexit


Banks in Britain can currently trade across the bloc’s single market under European “passporting” rules, but this is expected to end after the United Kingdom ceases to be a European Union member in 2019. The French economy minister Bruno le Maire has a clear answer about future in this sector after Brexit:
" Financial services cannot be in a free trade agreement ... we have to rely on equivalence regimes, that is the best solution for financial services”   This is not just about France. This is to protect EU costumers, system and rules.

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Brick wall for Britain...

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It will be interested to see what the other member countries think, especially Germany. Why? Because, looks like Germany is looking after itself. What will Brussels say or do after the last statement by the French minister.

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(edited)

Brexit means no passporting rights for the financial industry therefore banks must move to EU. So...

Edited by franco

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