Two major alliance emerging amid Brexit negotiations entering in final round

FRANKFURT ALLIANCE WITH OTHER EU COUNTRIES

Nearly 20 banks have committed to launching new European Union hubs in Frankfurt since the Brexit vote, according to German officials. The economy minister for the state of Hesse, where Frankfurt is situated, said the city was confident it would attract more, with another 60 firms yet to decide on additional EU headquarters.

“We’ve got 18 entities… that have committed,” Tarek Al-Wazir said during his most recent trip to London

“There will be other entities who are in the decision process now, so we’re in contact with some of them – of course, we’re not able to say who they are, but at the end if you compare everything that happened since the Brexit referendum and if you compare the real decisions made, I think we are  number one on the continent and I’m sure this will continue.”

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FRANKFURT MERGING WITH OTHER EUROPEAN COUNTRIES WHEREAS UK GETTING SUPPORT FROM NORWAY AND BRUSSELS

UK WITH NORWAY AND OTHER NON EU’ s COUNTRIES

Norway’s government has signalled its co-operation with British wishes to roll over trade arrangements with non-EU countries in the transition phase after Brexit. The UK’s tariff-free trade in goods with Norway and scores of other non-EU countries is ensured by EU treaty arrangements, which for Britain will end with Brexit in March 2019. But Britain wants those agreements to continue to apply as if it were still an EU member state during its post-Brexit transition, provisionally agreed to last until the end of 2020.

Brussels has agreed to notify third countries such as Norway of trade arrangements being “rolled over” for the transition, but many trade experts fear that trade partners will demand concessions in return. However, Siv Jensen, Norway’s finance minister, has told the Financial Times that Oslo had “no objections to a transition period” with “flexible solutions”. Norway participates in the single market through its membership of the European Economic Area but is not in the EU’s customs union. In a speech during a visit to London, Ms Jensen warned against “regulatory arbitrage” after Brexit and said Norway and other countries neighbouring the UK had “an interest in the UK continuing to endorse the idea of common rules and a level playing field”.

 

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