Sources: EU officials reject City of London's Brexit blueprint for banks - RTRS

Reuters quoted two senior British Finance Executives on Wednesday, as saying that the European Union (EU) officials have rejected the City of London’s proposal to strike a post-Brexit free trade deal on financial services.

This comes as a severe setback to Britain’s hopes of retaining full access to the EU markets for London, one of the world’s top two financial centers.

One senior British finance executive noted: “They have made it very clear to us that this is unacceptable to them. This was our best and frankly only proposal. We don’t have a plan B.”