Now is no time for a row with EU on finance - BoE's Bailey

Bank of England Governor Andrew Bailey urged the European Union not to pick a fight with Britain over trade in financial services after Brexit and he said the bloc was demanding more of London than other partners. "The EU has argued it must better understand how the UK intends to amend or alter the rules going forwards.

Bank of England Governor Andrew Bailey urged the European Union not to pick a fight with Britain over trade in financial services after Brexit and he said the bloc was demanding more of London than other partners. "The EU has argued it must better understand how the UK intends to amend or alter the rules going forwards. This is a standard that the EU holds no other country to and would, I suspect, not agree to be held to itself," Bailey said in the text of a speech he was due to deliver on Wednesday.

"We have an opportunity to move forward and rebuild our economies, post-COVID, supported by our financial systems," he said. "Now is not the time to have a regional argument."