We can spot the real reason here

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.”

Well, hmm.

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…..

6 thoughts on “We can spot the real reason here”

  1. As if the EU gives a damn about international law. International law is rubbish made up by woke activists to screw us. It’s certainly racist to even imagine it might apply to them.

  2. Can someone clarify this for me? Is “equivalence” just another name for “financial passporting”? Because if it is then it is pretty easy to bypass by simply setting up a new EU based company in Ireland, Luxembourg, Cypress, etc. Sure, there are some hurdles to jump in terms of compliance, EU resident persons and such, but essentially it’s pretty easy. Which is why almost nobody used the passporting arrangements that were established during our tenure in the EU.

  3. The complaint is not that UK regulations are a problem, but that they might become a problem at some time in the future because we can change them without permission from the EU. Why that is a problem for today is not clear but it is as good an excuse for a hostile action as the EU can find at the moment.

  4. I was under the impression the UK was a third country and would be treated as such
    Now it appears we have some sort of special status of third country

    It’s all very Humpty Dumpty

    I doubt that the WTO will see it that way

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