Barnier Signals More Delay for London Banks Eyeing EU Market
- Chief Brexit negotiator says process not open to negotiation
- Michel Barnier also warns firms trying to skirt new rules
Michel Barnier
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Michel Barnier, the European Union’s chief Brexit negotiator, warned the bloc won’t be hurried into granting U.K. financial firms free access to the bloc’s single market.
“Equivalence decisions are, and will remain, unilateral of each party and aren’t subject to negotiation,” he said at the European Business Summit in Brussels Thursday. “We will take no risk about financial stability.”