British Chancellor of the Exchequer Jeremy Hunt and European Commissioner for Financial Stability, Financial Services and the Capital Markets Union Mairead McGuinness sign cooperation pact on financial services, in Brussels, Belgium June 27, 2023. REUTERS/Yves Herman
The UK has signed a pact with the EU to increase co-operation on financial services.
It will set up a forum where the EU and UK can meet twice a year to discuss financial regulation and standards.
The long-awaited move is being seen as a sign the UK is willing to work more closely with the EU.
Chancellor Jeremy Hunt said building a constructive relationship was of mutual benefit, as the UK and EU financial markets were “deeply interconnected”.
The memorandum of understanding that is being signed was first outlined in the UK-EU Trade and Co-operation Agreement, in the wake of the UK losing unfettered access to EU markets under Brexit.
The text was published last month, and the memorandum itself amounts to a list of broad shared objectives.
Spokesperson for the European Commission, Daniel Ferrie said the move would “set up a forum to facilitate dialogue”.
Tragedy struck in Ogun State after a worker attached to the state’s planning authority was…
President Bola Tinubu hosted a select group of senators for an Iftar dinner at the…
President Bola Tinubu has approved the creation of the Ajaokuta Free Trade Zone, a strategic…
President Bola Tinubu has strongly denied allegations linking him to any form of violence against…
The All Progressives Congress (APC) has strongly condemned allegations made by the African Democratic Congress…
The Independent National Electoral Commission (INEC) has introduced a new update to the Biometric Voter…