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City of London will have "less fluid" trade with EU, says EU official

Fri, 2nd Oct 2020 08:27

BRUSSELS, Oct 2 (Reuters) - The flow of financial services
between the European Union and Britain will be less fluid from
January whatever happens in talks on a future free trade deal,
the EU's financial services chief designate said on Friday.

"Under all circumstances, deal or no deal, trading in
financial services will be different and less fluid as of the
first of January next year," Mairead McGuinness told the
European Parliament.

"We need to be avoid being overly dependent on a third
country for key financial services," she said in a confirmation
hearing on her appointment as financial services commissioner.

(Reporting by Huw Jones in London
Editing by Alison Williams)

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