EU warns Britain assuming the inclusion of financial services in any free trade agreement

EU warns Britain assuming the inclusion of financial services in any free trade agreement


27/04/2017


Direction Press / Agencies
Diplomats said yesterday that the European Union leaders warn Britain that it can not assume that the financial services industry will be included in any free trade agreement after they leave the Union.

Identified the British Prime Minister, Theresa May, banking services and other financial services as a priority for future trade agreement with the European Union after Britain's exit.

It may will open negotiations with the EU in June if it wins the early elections called for by last week.

But France and other Member States of the Union urged during a meeting yesterday on the changes in the draft, explaining its position that any agreement allows the City of London, the main financial center of Europe, to continue to get easy access to EU markets should be required to Britain continuously regulation and supervision of by the European Commission in Brussels.

One diplomat said after EU leaders endorsed aides draft of the so-called, "outline" that "twenty-seven leaders will not necessarily examine the financial services in the free trade agreement, as predicted Theresa May."

It is expected to support leaders at a summit to be held on Saturday, the new draft for "outlines" prepared by Michel Barnier, who is responsible for Britain out of the EU negotiations, having reviewed by foreign ministers on Thursday.

A second diplomat involved in the talks, "There is nothing any disagreement between Azaamehol this subject."

Seeks European Union, which makes the issue of the defense of European citizens in the UK rights (British nationals in the country) between the three priorities, to ensure that "the right to obtain permanent residency" for people who have lived legally five years in a way in Britain, according to "outline ".

As stated in the "lines" that all of London's obligations "arising from a multi-year financial framework" to be paid within the framework of the financial agreement for the settlement of accounts between the United Kingdom and the European Union.

It covers the current financial framework for the period of 7 years and will continue until the year 2020, ie after the scheduled date for the exit of the United Kingdom in March 2019 (29 two years after the European Union officially informed). The framework identifies the areas in which it invests the European Union as well as spending cap should be respected annual budgets.

The invoice must be paid to London to withdraw from the European Union, one of the most sensitive issues in the negotiations with the announcement of Brussels it would be "great." It was evaluated from the European side about 60 billion euros.

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