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07 March 2018

BBC: EU trade deal must include financial services, says Hammond

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Chancellor Philip Hammond has told European leaders that it is in the "mutual interest" of both the UK and the EU to include financial services in a free trade agreement.

n a speech, Mr Hammond set out his argument against "sceptics", saying it is possible to reach a deal.

But EU president Donald Tusk flat out rejected the UK proposals.

The EU's chief Brexit negotiator, Michel Barnier, has argued that such a deal had never been done before.

But Mr Hammond said the EU has in the past attempted similar agreements.

In December, Mr Barnier said: "There is not a single trade agreement that is open to financial services. It doesn't exist."

Mr Hammond said on Wednesday that the EU itself tried to include financial services on trade deals with the US and Canada.

He said: "If it could be done with Canada or the USA... it could be done with the UK."

The Chancellor stressed: "I am clear not only that it is possible to include financial services within a trade deal but that it is very much in our mutual interest to do so." [...]

Full article on BBC

© BBC - British Broadcasting Corporation

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