Brexit: UK must keep paying into EU budget if its banks want to trade in Europe, Germany to demand.

Britain may be asked to keep paying after Brexit.

The UK will be asked to make substantial indefinite contributions to the EU budget after Brexit in exchange for British banks having access to Europe’s financial markets, under plans being considered in Brussels.

German government officials told the Bloomberg news agency that a trade deal with the UK could only include financial services if the UK makes payments to Brussels and continues to follow EU law.

The stance risk enraging Conservative Brexiteers, including Foreign Secretary Boris Johnson, who have made the end of payments to the EU budget after Brexit a red-line – but insisted the City would still be able to prosper once Britain has left.

By Jon Stone.

Full story at Independent