FT: Barnier urges Cameron and City to 'play the game'

22 January 2012

In a speech in the City, Michel Barnier, the EU commissioner for the single market, will vehemently deny that he is presiding over "a plot" to damage the City and drive business to financial centres on the continent.

David Cameron and the City of London must learn to “play the European game” and give up seeking UK exemptions that would hurt the economy and endanger open trade, the European Union’s top financial regulator will warn on Monday.

But he will bluntly criticise the safeguards for the UK financial sector sought by the prime minister at last December’s EU summit, arguing that they would endanger the single market by prompting other countries to seek carve-outs for national champions.

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