In an interview with the Financial Times (FT) on Monday, European Commission Vice President Valdis Dombrovskis warned that the City of London could be cut off if the European Union (EU) is not vigilant in checking the UK rules that ensure the alignment with the continent.
Key Quotes:
Access will depend on Britain “not starting to engage in some kind of deregulation”.
“The more systemically important the market is for the EU, the more we import potential risks, [and] the closer the regulatory alignment that is expected.”
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