Mutual unrecognition

The EU may have once thought about including financial services in trade deals but won't do for the Brits. It's time for the UK to get real give hopes on "mutual recognition", writes Samuel Lowe at the Centre for European Reform: "Behind closed doors, member-state representatives say that comprehensive mutual recognition is not something an FTA can allow in and of itself. It would also require the EU to change many of its laws, which only provide certain rights to financial institutions incorporated within the territories of member-states of the EU and the European Economic Area. In itself, this would not be an impossible hurdle to clear, but it would require the will to offer mutual recognition in the first place, which is currently absent on the continent."