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London (Reuters) – According to a newspaper report, the British government has abandoned plans to give the domestic financial sector full access to the European single market even after Brexit.
Prime Minister Theresa May is looking for a more flexible link with the remaining 27 EU states in this area, the Financial Times reported on Wednesday. May wishes to present her ideas on future relations with the EU on Thursday. The heart of these proposals is a free trade zone for goods, which detractors of their own party want to prevent.
Banks in the city of London have given up hope of entering the European market after the Brexit transition phase. Reuters had already reported in June that EU member states did not want to change their own rules for non-union financial service providers. As a result, any changes would also apply to other states.
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