Eurogroup Chief Warns UK Becoming Tax-Haven Hampers Trade Deal
- Eurogroup Chief Dijsselbloem responds to UK threats to become tax haven
- Says United Kingdom ‘going rogue’ on taxes would hamper trade deal
- UK Court ruling Parliament has say in break adds to Brexit uncertainty
Would you like to know more about trading currencies or commodities? Check out our DailyFX webinars.
Jeroen Dijsselbloem, President of the Eurogroup spoke in Brussels today about the ongoing uncertainty surrounding the Brexit transition. Dijsselbloem appeared to focus on comments coming out of the UK that threatened to turn the country into a full-blown tax haven. To Dijsselbloem and those with stake on the EU side of the forthcoming negotiations, these threats, make it appear as if the UK has given up on seeking EU allies for upcoming negotiations.
In his comments today, the Eurogroup Chief remained firm that UK banks won’t have EU access with different rules, and hinted the UK would be punished with a tough trade deal if they attempted to ‘go rogue’ on taxes. The comments out of Brussels came just hours after the UK Supreme Court ruled that Prime Minister Theresa May will require Parliamentary approval before she can trigger Article 50. This ruling will potentially add uncertainty to an already unclear path for Brexit.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.