Brexit differences cannot become a tool for competition: Michel Barnier

Whilst Brexit may be definite, it remains unclear just what the EU and United Kingdom's future relationship will look like.

Every member state, including Luxembourg, has its own red lines, which must be juggled by one man - Michel Barnier, the former Brexit negotiator and now head of the taskforce managing the EU's relationship with the UK. Barnier came to Luxembourg to hear the government's and Luxembourgish Chamber of Deputies' position on Brexit.

In the interview, Barnier made it clear there would be no negotiations on financial services. It is, after all, of extreme importance for Luxembourg that London continue to respect European regulations on financial services, even after the transition period.

Asked about the risk that London may try to play the fishing industry for financial services, Barnier made it clear that the two areas have nothing to do with each other. When it comes to financial services, the EU and UK will attribute "equivalents when it becomes appropriate to do so". Nevertheless, he highlighted the need to pay attention to ensure that regulatory divergence, something the UK is keen on pursuing, does not become a competitive or dumping tool.

Asked more generally about the rise of populists in the EU, and whether they will continue to gain ground, Barnier acknowledge the question as important. He likened this, much like the vote for Brexit, to an expression of social anger.

The former French minister then called upon all the member states to hear this anger and respond to it. Germany has not given up its industry, whereas France has partly given it up, but it was not the fault of the European Union. He also added that housing is not an issue overseen by the EU.

(video report in French)