Appearing in front of a select committee he said the UK should walk away rather than take EU rules (Image: PARLIAMENT.TV)
The bloc may demand the UK remain strapped to its rules as a condition to giving London access to the continent.
Mr Bailey warned such an outcome would be bad for Britain and must be rejected by negotiators.
He said: If the price of that is no equivalence, then I’m afraid that will follow.
Deputy governor Sam Woods said he hoped the UK and EU would find a mutual deal (Image: PARLIAMENT.TV) That is the wrong outcome for the UK, but if that is where it goes.
| UPDATED: 13:56, Thu, Jan 7, 2021
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Speaking to CGTN, Wayne Fitzgerald, Deputy Leader of Peterborough City Council, dismantled claims Brexit will be detrimental to the UK in terms of trading and economic opportunities going forward. He said: Financially the stock markets have rallied this week in terms of financial centre. We are now providing more financial services outside of the EU. Trade in Europe has declined, year on year.
EU stance on financial services after Brexit is problematic - BoE s Bailey reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Synopsis
Britain has lost between 5,000 and 7,000 financial services jobs so far as a result of Brexit.
AFP
Britain has lost between 5,000 and 7,000 financial services jobs so far as a result of Brexit, less than some forecasters had originally feared, Bank of England Governor Andrew Bailey said on Wednesday. That of course is the day one thing. It doesn t tell us what it might be eventually. It s substantially less, I should say, than the sorts of numbers that were being talked about after the referendum, he told the British parliament s Treasury Committee.
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UK has lost up to 7,000 financial services jobs due to Brexit, BoE says reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.