Le Maire says UK financial services sector can not be in a free trade deal with EU post-Brexit

French fin min interviewed by the BBC earlier 6 March»We have to avoid any misunderstanding.Financial services cannot be in a free trade agreement, for many reasons, for reasons of stability, for the sake of supervision, because there are very specific rules for financial services.»

He added that an «equivalence regime» could be offered, which would mean mutual recognition of standards but could be easily revoked at 30 days’ notice. He also urged financial firms to consider locating in France. 

Le Maire is speaking in London this evening, and EU’s Verhofstadt is also in town today speaking to UK Brexit head Davis and Home Sec Rudd. He’s expected to deliver a warning to the UK that MEPs would veto any move to downgrade rights for EU citizens who arrive in the UK during the transition period.

GBP unfazed and still finding some GBPJPY-led support pushing GBPUSD to 1.3888 with EURGBP steady around 0.8920 still.

Le Maire- No FTA deal for UK’s financial services

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