Abstract
If the UK cannot secure a “Norway” deal and stay within the internal market after Brexit, the UK will lose passporting rights for EU financial services and access to euro clearing and settlement, both of which make London attractive as a financial centre. A substantial part of the UK”s wholesale banking and trading sector may move out to the new EU27. For the future of its financial services sector, the UK government faces a fundamental choice between global and EU business.
Cite
CITATION STYLE
Schoenmaker, D. (2017). The UK financial sector and eu integration after brexit: The issue of passporting. In The Economics of UK-EU Relations: From the Treaty of Rome to the Vote for Brexit (pp. 119–138). Springer International Publishing. https://doi.org/10.1007/978-3-319-55495-2_5
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