Commenting on the Financial Times report on the risk to the £850bn a year Euro clearing industry, James McGrory, Co-Executive Director of Open Britain, said:
"The harsh reality of life outside the Single Market is setting in.
"The EU is clear that the Government's decision to quite the Single Market will put an end to euro clearing in London - meaning jobs will be lost and our wider economy will suffer.
"The Government should be working to protect our economy and deal with the difficult problems Brexit raises. But instead we hear that they are living on another galaxy, unwilling to engage in substantial talks with their EU counterparts.
"The Government need to wake up, rethink their approach, and focus on a deal than will protect jobs and living standards."
Notes to editors:
The front page of the Financial Times can be found here: https://twitter.com/hendopolis/status/859143174224261120
The full report from the Financial Times can be found here: https://www.ft.com/content/b2c842a6-2b64-11e7-bc4b-5528796fe35c