Is the European Union really being unreasonable over the City of London?
Or are we seeing an inevitable consequence of a Brexit that prioritised sovereignty over financial services?
A thread…🧵💵🏦🇬🇧🇪🇺
To some extent yes – especially true among French.
But don’t discount the financial stability concerns, especially since UK ministers have said they intend to use Brexit to diverge on regulation...6/
When the UK was in the EU both co-operated to determine financial regulation.
Now there’s no institutional mechanism to force co-operation, build trust, ensure enforcement etc...8/