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Tue Jan 28, 2020, 09:20 AM

Brexit:What changes after the 31st?

... The EU is Britain’s biggest market for financial services, worth about 26 billion pounds a year in exports. That level of business has helped to keep London as one of the world’s biggest financial centres and made the financial industry Britain’s most important tax-raising sector...

WHAT CHANGES ON JAN 31?

Effectively, nothing. There will be a business-as-usual transition period until the end of 2020,
meaning that investors in Britain and the EU will see no change in services on Monday, Feb. 3.

All EU financial rules will still be applicable in Britain until the end of December...

https://uk.reuters.com/article/uk-britain-eu-finance-factbox/the-city-and-brexit-what-changes-and-when-idUKKBN1ZR1ES?il=0

... Britain and France, the EU’s two nuclear armed U.N. Security Council permanent members, have long been by far the bloc’s leading military powers. Britain was also the bloc’s only member of the “Five Eyes” intelligence sharing group, giving it privileged access to the output of U.S. spies. To contain the damage from Britain’s exit, the bloc is keen to keep London in a tight security and defence relationship in the future.

The departure of a traditional proponent of trans-Atlantic ties will leave more say to Paris, which has greater ambitions for the integration of European defence...

... With Germany seen leaning more towards a traditional French model of a strong state role, Britain will be an absence in discussions about industrial policy, vetting foreign investment, state aid to industry and creating national champions...

... Britain was by far the largest EU state outside the euro zone, meaning the other eight countries that have kept national currencies lose their most important ally when their interests diverge from those of states that use the euro...

https://uk.reuters.com/article/uk-britain-eu-dynamics-explainer/missing-you-already-how-brexit-tilts-eu-political-alliances-idUKKBN1ZR1BE

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