City of London seeks Europe access via Norway-style deal

Frankfurt

THE City of London is in talks with government officials as it seeks support for a Norway-style deal giving financial groups continued access to Europe after Britain's exit from the European Union.

The push underscores scepticism that the status quo on trade with Europe can be held at little or no cost, a pledge made by some who campaigned for Britain to leave the bloc.

But while there is a growing desire in London's financial centre for a trade model similar to Norway's - which is not a member of the EU but has close ties to it - those who campaigned for Britain's exit from the EU would find it hard to accept.

It would mean Britain would have to pay into EU coffers and adopt its laws, without a say, in return for a licence to sell products such as financial services across the EU single market of 27 countries. Norway's deal includes the free movement of people. "A lot of City institutions want continued access to the single market with passporting rights," said Mark Boleat, City of London head of pol…