The devil is always in the detail. Or, in the case of the Brexit White Paper’s financial services policy, the lack of it. To be able to do business in the EU, there will need to be a ‘reciprocal recognition of equivalence’ and ‘future determinations of equivalence would be an autonomous matter for each party’. In other words, get on and work it out for yourselves, guys, we’ve got too much other stuff to worry about. But maybe business will negotiate better than government.
“A ‘no-deal’ Brexit will be devastating”
I quoted Overheard Bloke in the Gym Changing Room not long after the referendum: ‘We should say ‘You’ve had your last cheque, Merkel’, close the borders, job done!’ If we’d followed his sage advice rather than fannying around for four years, we’d have been through the...
