After European Central Bank (ECB) President Mario Draghi warned yesterday speaking to the parliament that Brexit has brought the sovereignty of the Eurozone, which should seek to repatriate certain types of financial activities from London, Euro group Chief Jeroen Dijsselbloem talked tough on the upcoming negations with the United Kingdom.

Speaking to the members of the European parliament, Mr. Dijsselbloem said,   “We can’t allow the financial services center for Europe and the Eurozone to be outside Europe and the Eurozone and to go its own way in terms of rules and regulations……We can’t allow that to happen”. He suggested that adopting the Norwegian model, which is to allow full membership of the European Economic Area (EEA) and adopting the EU regulations is the only way for the United Kingdom to safeguard the access for its financial services industry.

Mario Draghi has suggested the same and stressed that the European member countries need to stand firm on this. He also suggested that the impact of an exit would be worse for the UK than for the Europe.