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Britain must respect all EU rules to keep access to markets: ECB's Villeroy

Published 07/06/2016, 04:11 AM
Updated 07/06/2016, 04:20 AM
© Reuters. French Central bank Governor Villeroy de Galhau attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid

PARIS (Reuters) - Britain must respect all EU rules if London aims to keep access to the bloc's financial markets after it leaves the European Union, ECB governing council member Francois Villeroy de Galhau said on Wednesday.

Speaking at a financial conference in Paris, Villeroy said that London could not expect any "cherry-picking and free-riding" when it negotiates its future trade relationship with the EU.

© Reuters. French Central bank Governor Villeroy de Galhau attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid

"For the UK to maintain access to the single financial market, all the usual EU rules should be strictly respected," Villeroy, who is also the governor of the French central bank, said.

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