European Central Bank: Britain Must Respect ALL EU Rules To Keep Access To Markets

Mario Draghi, President of the European Central Bank (ECB), addresses the media following the meeting of the Governing Council in Frankfurt am Main, western Germany, on March 10, 2016

(REUTERS) – Britain must respect all EU rules if London aims to keep access to the bloc’s financial markets after it leaves the European Union, ECB governing council member Francois Villeroy de Galhau said on Wednesday.

Speaking at a financial conference in Paris, Villeroy said that London could not expect any “cherry-picking and free-riding” when it negotiates its future trade relationship with the EU.

“For the UK to maintain access to the single financial market, all the usual EU rules should be strictly respected,” Villeroy, who is also the governor of the French central bank, said.

(Reporting by Leigh Thomas; Editing by Maya Nikolaeva)


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