Britain signs Brexit memo with EU over financial services after long wrangling

European Commissioner for Financial Services Mairead McGuinness.

The UK and the European Union signed a long-awaited memorandum of understanding on financial services, marking a moment of accord amid years of wrangling over post-Brexit co-operation.

Britain's Jeremy Hunt approved the memo with commissioner Mairead McGuinness during the first visit to Brussels by a UK chancellor in more than three years. Mr Hunt described the move as an “important turning point,” saying “we have shared objectives and cooperation is essential”.