The B-word has been a storm cloud over Europe for three
years now, and we are still nowhere near a deal that has
reached consensus among the 27 increasingly hostile member
states and a divided, yet at times nearing on nonchalant, UK
When speaking with anyone in the finance industry, the
end-goal tends to be equivalence. Among various other benefits,
equivalence reduces opportunities for jurisdictional arbitrage,
which seems likely to take place should Britain crash out
without a deal.
When it comes to equivalence, it is more than likely...