The Swiss model is no Brexit panacea

摘要

The temptation of slotting the future UK-EU relationship into a predefined category has proved too much. Norway's model, the financial community's top choice, seems to have been discarded, given its migration and EU-budget requirements are unpalatable to other constituents. Attention has now turned to the Swiss set-up, with its web of sector-specific bilateral agreements. Yet emulating this also seems unachievable: Brussels is fed up with the need for continual updates, making it loath to replicate the cumbersome arrangement with the UK. And as there is no financial services agreement, there is no tangible benefit for the City of London.