The Future of U.K. Banking Rests on a Process Run by European Politicians
- Date: 17-Mar-2021
- Source: Washington Post
- Sector:Financial Services
- Country:Middle East
The Future of U.K. Banking Rests on a Process Run by European Politicians
Even with Brexit done and a trade agreement sealed, the U.K. and European Union are still jockeying over the future of financial services. The City of London's unhindered access to European markets -- and with that, its standing as a global financial hub -- hinges on a process controlled by politicians and technocrats in Brussels known as "equivalence.“ The EU has been in no rush to move things along, while the U.K. is signaling that it intends to veer from the bloc's rules and will not accept e