The EU risks violating international law if it continues to deny the UK “equivalence” in financial services already granted to a string of other countries.
Selective treatment of one state for political reasons breaches the non-discrimination principle of the World Trade Organisation. It is strictly forbidden.
Lorand Bartels, an expert in international trade law at Cambridge University, said: “A good lawyer would reach for Article VII of General Agreement on Trade in Services (GATS). It is not a slam dunk but it would be a good case.”
The EU says its ties to the UK are fundamentally different from ties to any other third country,
Which is the real reason. If someone who leaves the club thrives outside the club then why wouldn’t others decide to leave the club?
Therefore everything must be done to try and stop the leaver from thriving…..