Germany Wants to Help U.K. Banks But Needs Concessions
- Government in Berlin floats broker role, person familiar says
- U.K. would have to concede on European Court and rules
Germany Is Said to Want to Help U.K. Banks
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Germany wants to help U.K. banks get access to the European market after Brexit, but would need Britain to make concessions, according to a person familiar with the German government’s position.
With Brexit talks bogged down in divorce issues, the outlook for Britain’s financial services sector hasn’t been discussed yet. But the European Commission, which is leading negotiations on the EU side, has rejected the U.K.’s proposal for how its banks should operate in Europe after the split and is offering much more limited access instead.