Brexit Threat to Banks Grows With Gulf Between U.K. and EU
- Lenders making plans for a no-deal departure at end of year
- British draft deal gives it more sway on EU finance regulation
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Banks in Britain hoping to get easy access to European Union markets after Brexit are facing a setback after talks for a cross-border trade deal soured.
With seven months until Britain leaves the EU’s single market and customs union, the gulf between the two sides widened this week after U.K. published its draft agreement that stands in stark contrast to the EU’s long-held positions.