Brexit financial services deal unlikely to be done on time - report

Donnerstag, 26. November 2020 17:24

The European Commission informed member states on Thursday that an equivalence agreement on financial services with the United Kingdom is "unlikely" to be finalized by the end of the year, RTE reporter Tony Connelly said citing an unnamed source familiar with the matter.

"We're working through the rest of the equivalence. It's not clear it will be ready by year-end," the source was quoted.

The UK, whose financial services sector employs more than 1 million people, has been seeking an equivalence agreement with the European Union in order to ensure its companies will be able to serve EU customers after Brexit. Earlier this month, Brussels said it is willing to grant City only market-access rights that are "in the EU’s interests."

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