London — The EU has indicated it is willing to provide a form of access for Britain’s vast financial services industry after Brexit, says City Minister John Glen. Glen said on Monday the transition deal agreed by Britain and the EU in March allows financial firms to plan their future with confidence. "The fog is clearing…. We are already seeing progress," Glen told the CityWeek conference in the Square Mile’s Guildhall. "The EU have now recognised that there will be some form of market access in financial services, having previously dismissed the idea." Britain’s financial services sector looks set to be one of the most divisive areas in the Brexit negotiations, with Britain demanding a generous deal while the EU refuses to shift from its insistence that Britain’s red lines — such as ending the free movement of workers from the EU — make that impossible. Britain has proposed a future trade deal with the bloc for financial services based on mutual recognition of each other’s regulati...
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