The U.K. and the EU are finally talking again. But the City of London is still out in the cold.

Despite being the U.K.’s most globally important industry, accounting for 12 percent of GDP and providing 2.5 million jobs, the finance sector is stuck on the sidelines even as relations with the EU thaw.

The two sides are rekindling their friendship as the new Labour government in Britain pushes to improve tense relations via a Brexit “reset.” That drive culminated in a first meeting between Prime Minister Keir Starmer and European Commission President Ursula von der Leyen in Brussels Oct. 2, with plans to keep talks going.

It should be a perfect opportunity to win better access for the City of London to the EU’s financial industry; since Brexit, the “square mile” has been cut off from the Continent almost entirely.

Yet the mammoth industry didn’t get so much as a mention in the October joint statement from Starmer and von der Leyen, and U.K. and EU finance chiefs haven’t dared raise the topic in recent meetings either.

It’s not the first time the City has been brushed aside in Brexit talks.

Former Prime Minister Boris Johnson, who formulated the U.K.’s 2020 Brexit deal, left financial services out of his pact with Brussels.

Now it appears Keir Starmer is doing the same....

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