EU Risks Global Bank Crisis If It Blocks Brexit Deal, U.K. Warns

Bloomberg | Jan. 10, 2018

By Tim Ross and Ian Wishart

The European Union risks opening the door to another global financial crisis if it refuses to give London’s bankers a good trade deal, two senior U.K. ministers said, as the finance industry emerged as a key battleground for Brexit talks.

In a joint article for a German newspaper, Chancellor of the Exchequer Philip Hammond and Brexit Secretary David Davis said they want close cooperation between EU and U.K. regulators after the country leaves, as part of an expansive trade deal covering both goods and financial services.

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