UK Lawmakers Says Country Would be Fully Functional Even in No Deal Scenario

January 29, 2019 Share Print 0

Britain would have “fully functional” rules to remain a top global financial center even if it left the European Union without a Brexit deal, its lawmakers said on Tuesday.

They sought to reassure foreign financial firms that a no deal Brexit would not result in disarray for the City of London at a time when many banks, insurers and asset managers were already moving staff and operations to new EU hubs.

Lawmakers vote on Tuesday in a bid to end a deadlock over Britain’s divorce settlement with the EU and prevent it leaving with no deal on March 29.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.