world news

EUROPEAN UNION officials have been accused of spreading lies about Britain and future relations after Brexit to lure international banks away from the City. The Bank of England has reacted with fury over claims Brussels’ regulators have been using scaremongering tactics to persuade foreign banks to relocate their European headquarters by claiming post-Brexit there will be chaos in London. Sam Woods, a deputy at the Bank, claims “EU colleagues” have been presenting false and conflicting views to a “large foreign bank”. The BoE worker said the lender was inaccurately being told the British public be demanding “ever-tougher financial regulation” and focusing frustrations on City bankers after the UK quits the EU. In fact the City is expected to enjoy light touch legislation in comparison to the highly regulated EU, he said. And Mr Woods confirmed the EU claim was the opposite of his own conversations with EU regulators after they expressed concerns over the UK implementing...