Brexit: Financial services pivotal to ‘bespoke’ deal

Financial services are pivotal to the “bespoke” Brexit trade deal wanted by the UK, two senior ministers are to tell German business leaders.

Chancellor Philip Hammond and Brexit Secretary David Davis will call for the “most ambitious” economic partnership in the world during a trip to Berlin.

They will stress the importance of supporting financial supervision and not allowing banking “fragmentation”.

The EU has warned the UK cannot cherry-pick the kind of arrangement it wants.

The second phase of Brexit negotiations, covering transitional arrangements after the UK leaves in March 2019 and future economic and security co-operation, are set to officially begin in March.

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