Benefits of Single Market Access Overplayed

Britain needs to focus its efforts on the banking sector when negotiating new financial trading terms with the European Union as the benefits of unfettered access across the industry as a whole have been overplayed, think tank Open Europe said in a report on Monday.

Open Europe, which campaigned for reforming the EU and adopted a neutral stance in the UK’s EU referendum in June, said a broad strategy across the whole financial sector would lack credibility.

“To claim that the success of the UK as a global financial centre is entirely reliant on the passport is exaggerated,” said Vincenzo Scarpetta, a senior policy analyst at the pan-European think tank.

Reuters

Central Bank Speeches Galore on Monday

Seeking Policy Direction

UK Exploring Post-Brexit Market Access Options

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.