Luxembourg’s ‘provocative’ Brexit solution for financial services
By Will Grahame-Clarke, 1 Nov 17
In a speech examining the impact of Brexit on European Financial Centres Luxembourg finance minister Pierre Gramegna says the UK has five Brexit options to choose from.
The Turkish Model
Gramegna’s says this model has not been considered and admitted it might be seen as ‘provocative’ but he argues has its advantages not least its simplicity.
The Turkish model is based on the 1963 customs agreement between Turkey and what was then the EC.
In that deal Turkey is subject to the same customs tariffs as inside the union, reducing administrative procedures, but doesn’t force Turkey to accept EU standards.
Tags: Brexit | Luxembourg
