London’s Stock Traders Get a Brexit Warning From Switzerland
- Europe’s equities markets not immune from nationalism
- EU-Swiss talks on equivalence is ‘depressing’ precedent
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The City of London is getting a warning from Switzerland about just how fraught its dealings with the European Union could become after Brexit.
Officials in Brussels and Bern are holding stock trading hostage to a broader agreement on their economic relationship, including issues like immigration and wage laws. The two sides may yet work out a deal before a year-end deadline, but the takeaway for future Brexit talks is already clear: a seamless European equity market is not anything to be taken for granted.