OECD urges EU to avoid 'erecting new barriers' in Brexit negotiations

The 'strength' of London cannot be 'relocated' elsewhere

The Organisation for Economic Co-operation and Development (OECD) has stated EU nations must continue to trade with London's financial hub after the country officially leaves the bloc, or risk losing out on vital capital.

In its annual business and finance outlook, the organisation said there is no need to build barriers between the continent and the City of London, which plays "a key role in international banking, bonds and foreign exchange". It added: "Erecting new barriers to financial services in the post-Brexit environment will not be in the collective interest of the global economy. "For OECD countries, international obligations in the form of the OECD Codes of Liberalisation should present no legal barriers to operating in the collective interest in the post-Brexit environment." All 35 OECD...