![]() ![]() In 2019, before Brexit, the EU accounted for 40% of British exports of financial services. to participate as freely in the bloc’s finance industry as before. After months of negotiation, the EU has given every indication that it will not play ball and will not allow the U.K. ![]() ![]() and some other non-EU states enjoy, on the grounds that British and EU financial regulations are more or less the same. But Prime Minister Boris Johnson’s government had been hoping the U.K. would subsequently be given the same access to EU financial markets and EU-based clients as the U.S. Services like banking, brokerage, foreign exchange, fund management, insurance and share dealing were excluded from the trade deal struck between London and Brussels just before Christmas last year. But when it comes to one of the U.K.’s most important export industries - financial services - the wrangling seems to be over, and the result doesn’t look great for the Brits. The wrangling over Brexit rumbles on, with European Union and the United Kingdom still haggling over a range of trade issues involving things like sausages and shellfish. ![]()
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