CashNews.co
As relations improve, the two sides have started talking more about financial services in a technical forum, hoping to steadily improve the mood and find areas of cooperation.
To keep up the positive chatter, Chancellor Rachel Reeves will also travel to Brussels, likely in December, to attend a meeting of eurozone finance ministers.
But amid all that noise, silence reigns on the best way to improve access for the City, the second largest global exporter of financial services (behind only the U.S.).
In a sign of just how little the square mile is now part of the U.K.’s demands on Brexit, Reeves did not raise the issue of market access at a September meeting with the EU’s financial services chief, Mairead McGuinness.
While the meeting was friendly and cordial, according to officials, the discussions centered on shared problems such as deepening capital markets and working together on sanctions, and the U.K. did not raise the topic of Brexit barriers for the City.
“The financial services sector is critical to promoting growth in the U.K. and in Europe,” said a Treasury spokesperson. “We are meeting with our European partners in order to reset relations, including how we can work together to strengthen cooperation in this important sector.”