The EU’s chief Brexit negotiator has sought to temper British enthusiasm for a comprehensive deal on financial services after Brexit, underscoring the much more limited EU-US relationship in the sector as a model to follow.
Speaking at the European American Chamber of Commerce on Tuesday, Michel Barnier emphasised the EU’s consistent view that third countries outside the single market cannot participate in the free exchange of financial services.
“The UK still wants continuity. It would want the EU to accept UK standards by means of a system of mutual recognition,” he said.
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