Irish Central Bank Deputy Governor Ed Sibley warned that many financial firms remain unprepared for Britain’s exit from the European Union as the two sides remain at odds on their future relationship.
Officials in Brussels say Prime Minister Theresa May is trying to cherry pick the best bits of single-market membership and won’t be allowed to opt in and out of different regulations. They also insist that the U.K. can’t expect mutual recognition of rules, which is May’s plan to protect the City of London.