EU’s Dombrovskis issues Brexit warning over city of London access – FT

Dhwani Mehta FXStreet

In an interview with the Financial Times (FT) on Monday, European Commission Vice President Valdis Dombrovskis warned that the City of London could be cut off if the European Union (EU) is not vigilant in checking the UK rules that ensure the alignment with the continent.

Key Quotes:

Access will depend on Britain "not starting to engage in some kind of deregulation".

"The more systemically important the market is for the EU, the more we import potential risks, [and] the closer the regulatory alignment that is expected."

Meanwhile, the Cable remains on the back foot so far this Monday, with the 1.2900 handle likely to be tested amid narrowing lead between the Tories and Labour Party, as we head closer to the Dec 12 general election.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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