City cautiously optimistic about Brexit breakthrough

Author: Jimmie Franklin | Published: 18 Oct 2019

Progress in negotiations between the UK and the EU27 has been welcomed by those in the City.

There is hope that this will result in the UK’s withdrawal being approved by the UK Parliament, following endorsements from both Jean-Claude Juncker, president of the EU Commission, and unanimously by member states at an EU summit that took place yesterday to scrutinise the newest deal.

"This is an encouraging development," said Miles Celic, chief executive officer at CityUK. "It is important that the deal is now approved so that we can avert the damage and disruption a no-deal Brexit would cause to customers, industry and the wider economy here in the UK and in the EU."

KEY TAKEAWAYS

A new deal has been negotiated between the UK and the EU;The progress made has been welcomed by financial bodies in the City;There are still questions over what the UK's new relationship with...