News Ticker

Hammond for a lengthy Brexit transition

The UK finance minister Philip Hammond told the board of U.S. investment bank Goldman Sachs (GS.N) that he is supportive of a lengthy transition period after Britain leaves the European Union, a source familiar with the talks said, according to Reuters news agency.

The source said Hammond made a presentation to the Goldman Sachs board on June 29 when chief executive Lloyd Blankfein visited London for the annual board meeting.

The source confirmed an earlier Sky News report which said Hammond had offered private reassurances that he visualised a long transition period to support banks in preparation for Brexit and ease concerns of a “cliff-edge” exit from the bloc.

The Sky report said Hammond did not offer Goldman assurances above or beyond his public attempts to reassure the business community that the government was aware of its concerns.

Goldman Sachs declined to comment.

About Europe correspondent (419 Articles)
journalist

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: