Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

EU’s Barnier: Brexit, not the protocol, is the problem for N.Ireland

Published by linker 5

Posted on February 11, 2021

Featured image for article about Top Stories

BRUSSELS (Reuters) – The EU’s chief Brexit negotiator said on Thursday that the UK’s exit from the European Union is the reason for tensions between London and Brussels over Northern Ireland, not the protocol agreed between the two sides over their divorce.

“The difficulties on the island of Ireland are caused by Brexit, not by the protocol,” Michel Barnier told a European Business Summit event. “The protocol is the solution.

“I am sure if it is correctly implemented it will be progress for Northern Ireland. It protects the Good Friday Agreement in all its dimensions, it avoids a border between Ireland and Northern Ireland and it protects the single market.”

Barnier also said that negotiations on Brexit are finished and cannot be reopened.

He added that EU member states’ national authorities will be vigilant for possible circumvention of new rules by financial services companies following Britain’s final exit from the bloc’s orbit at the end of last year.

“The EU national authorities will be very vigilant in the next weeks,” he said. “I recommend everyone to be careful.”

He said the EU needs further clarification from the UK before making a decision on financial services equivalence.

“I can just repeat that the equivalence decisions are and will remain unilateral of each party and are not subject to negotiation.”

(Reporting by Philip Blenkinsop and John Chalmers)