UK-EU Financial Service Talks Will Begin This Week

UK-EU financial service talks will begin this week. The British Prime Ministry Spokesperson has announced the details. According to a statement made by the British Prime Ministry Spokesperson, the talks for a memorandum of understanding for financial cooperation between the UK and the European Union (EU) start this week. UK Prime Minister Spokesperson Jamie Davis said, “We want to protect financial stability, market integrity, investors and consumers," and continued as follows: “As part of the negotiations, we have worked towards a more comprehensive agreement on financial services and the Treasury Department will start working with the commission from the beginning of this week.” With the end of the Brexit process as of December 31, 2020, the UK, which officially left the EU, continued to comply with EU provisions due to the transition process. In addition, the country was holding extensive negotiations on bilateral relations with the EU, especially on trade. The prolonged Brexit negotiations were concluded a week before the end of the transition period, as issues such as "fishing", “commercial dispute resolution” and “ensuring fair competition” could not be solved. Britain, which became a member of the European Union (EU) in 1973, will continue to be subject to Brussels rules, even if it left the union.