Dire future painted for UK banks
Banking lobby group's report warns banks and staff will drain away if Brexit results in no access to EU
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London
A DRAFT report on the impact of Brexit on Britain's financial industry warns that banks and staff would "leach" away, undermining the wider UK economy, if they do not have access to European Union markets, according to sources who have read the report.
The report has been written by law firm Freshfields Bruckhaus Deringer for TheCityUK, which lobbies on behalf of the financial sector, and may be published later this month, when Britain formally starts divorce talks with the EU.
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