Britain to 'strain every sinew' to help finance sector after Brexit

  • 📰 Reuters
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Britain will do whatever it can to ensure that its financial sector remains a ma...

LONDON - Britain will do whatever it can to ensure that its financial sector remains a major global player after Brexit, financial services minister John Glen said on Monday.

Financial firms in Britain lose unfettered direct access to investors in the bloc after Brexit and will instead have to rely on the EU’s system of equivalence. The EU on Monday agreed a 3-month flexible delay to Britain’s departure, until Jan. 31, after Prime Minister Boris Johnson was driven to request a postponement due to lawmakers rejecting the sequence of the ratification of the divorce deal agreed with Brussels.

“We have got to weigh the issue up very carefully,” Glen said, adding it was difficult to know “where it would land” until equivalence negotiations with Brussels started.Britain needs to be able to set its own rules and Glen hinted that some of the EU’s capital rules for insurers could be amended, given what he called “pressure” in Britain for changes.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

plenty of help from the US...

Stop spreading propaganda . Your statement that “Britain has said it does not want to be a permanent 'taker' of EU rules to maintain EU financial market access” is farcically untrue. There are many that want to maintain EU membership as it is by the far the best deal.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What to watch today: Dow to rise, Alphabet to report earnings, and Brexit extension approvedU.S. stock futures point to a higher Wall Street open, giving the S&P 500 another chance to break its July record highs. None of the above. I’m going to watch trump get booed alllll day!!! Just keep printing baby
Source: CNBC - 🏆 12. / 72 Read more »