UK cannot have a special deal for the City, says EU's Brexit negotiator

Exclusive: Michel Barnier's stark declaration quashes hopes for a bespoke trade deal to include financial services

Britain cannot have a special deal for the City of London, the European Union's chief Brexit negotiator has told the Guardian, dealing a blow to Theresa May's hopes of securing a bespoke trade agreement with the bloc.

Michel Barnier said it was unavoidable that British banks and financial firms would lose the passports that allow them to trade freely in the EU, as a result of any decision to quit the single market.

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