EU Brexit threat: Brussels chief orders London to remain in step or face consequences express.co.uk

THE European Union’s financial services boss has warned that Brussels is ready to revoke the City of London’s post-Brexit market access in an apparent bid to keep Britain closely aligned.Valdis Dombrovskis said the European Commission would remain eagle-eyed in ensuring that British rules comply with the EU’s own standards for protecting consumers and guaranteeing financial stability. The Brussels bureaucrat said the bloc is willing to allow UK across through an “equivalence” system that are used by bankers and brokers in countries such as the US and Singapore. Mr Dombrovskis told the FT that Britain’s access will depend on “not starting to engage in some kind of deregulation”.