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.
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