The Express, 22 February, Martina Bet
London could “make the EU’s nightmare come true” if the City makes a clean break from Brussels, an economist claimed, while arguing that the bloc’s stance makes a mockery of its level playing field narrative.
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In a recent report, economist Catherine McBride argued that while many outside the financial services industry may assume that regulatory equivalence means “the same in substance or quantity”, it is now becoming obvious that for Brussels “equivalence” is simply a matter of political expediency.
She explained: “For the UK presently has not only equal, but identical, financial regulations to the European Union. The Commission claims that equivalence has been withheld because the UK could change its regulations in the future.
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