Even when the European Union (EU) cannot decide yet on granting Britain access to the bloc’s financial market, there has a little progress been made as London and Brussels have agreed a trade deal, said officials from the European Commission on December 24.
The landmark trade deal that was reached on December 24, set rules for industries such as fishing and agriculture while no much larger and influential finance sector of Britain have been covered in the deal. As per the deal, when Britain will have left the EU’s single market, it will have access to two financial activities from January 1.
While there were hopes that the much awaited trade deal would pave way for more access to the EU for Britain’s finance industry but the former indicated that it is in no rush to grant such access to the UK.
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