Bailey said the EU was holding the City to standards it did not even demand of itselfAndrew Bailey has accused Brussels of double standards by blocking the City from European financial markets and warned it against picking a fight that could harm the economic recovery. The Bank of England governor said the EU was holding the City to standards it does not even demand of itself as the price of an equivalence ruling that would give British banks access to European Union markets. SponsoredThe UK’s £130 billion finance industry was left out of the Brexit deal, with City institutions losing their “passport” on January 1. Daily share trading worth €6 billion has already moved to the Continent. Talks are under way over whether to grant UK institutions equivalence, particularly in the key area of investment banking, with a decision from the

Source: The Times February 11, 2021 00:02 UTC