If the UK cannot secure a ‘Norway’ deal and stay within the internal market after Brexit, the UK will lose passporting rights for EU financial services and access to euro clearing and settlement, both of which make London attractive as a financial centre. A substantial part of the UK’s wholesale banking and trading sector may move out.

doi.org/http://ssrn.com/abstract=2844253, hdl.handle.net/1765/93538
Rotterdam School of Management (RSM), Erasmus University

Schoenmaker, D. (2016). The UK Financial Sector and EU Integration after Brexit: The Issue of Passporting. In N. Campos & F. Coricelli, The Economics of the UK-EU Relationship: From the Treaty of Rome to the Brexit Vote, Palgrave McMillan, London, forthcoming. doi:http://ssrn.com/abstract=2844253