Banking Law News

Knot Says Brexit Deal Should Include Financial Services Role (1)

Jan. 8, 2020, 2:11 PM

European Central Bank policy maker Klaas Knot said that having “a deep and comprehensive trade deal” that covers financial services would be preferable as the U.K. prepares to the leave the European Union.

Speaking in Amsterdam on Wednesday, the Dutch governor warned that a no-deal Brexit remained a possibility in 2020 if future arrangements are not agreed. Such a scenario could lead to trade between between the EU and Britain falling by an average of 20% in the following years.

“In short, even though we have now avoided a no-deal Brexit at the end of this month, we still face...

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