EU's Barnier says that the UK cannot have a special deal for the City

- A trade deal could be agreed within a two-year transition period, but would have to be ratified by more than 35 national and regional parliaments.

- The UK could not stop Brexit unilaterally, arguing that overturning the decision to leave would require the consent of 27 EU member states – a view at odds with one of the authors of article 50, Lord Kerr.

- The UK must follow all rules and regulations of the EU during the transition period, including new laws passed after the UK has left.

- The UK could negotiate trade agreements with the rest of the world during the transition, but they could not come into force.

- He would not confirm British estimates that the final Brexit bill – the UK’s outstanding obligations to the EU – would be no more than €45bn (£39bn).

18 Dec 2017 - 21:12- Forex- Source: Guardian

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