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Is it time to rejoin the single market? Tobias Ellwood says yes (www.theneweuropean.co.uk)

submitted 2 years ago by theinspectorst@kbin.social to c/uk_politics@feddit.uk

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The Senior Tory MP has called on both the government and Labour to show courage and admit that Brexit has failed

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[–] theinspectorst@kbin.social 3 points 2 years ago (1 children)

If you’re French, you can’t buy car insurance from Italy or have a German bank account.

They literally can and do. It's just so seamless within the EU that people who aren't interested may not even realise they're dealing with a company from another EU country. Being able to sell services cross-border without extra requirements (on top of those applying EU-wide) is the whole point of the single market in services.

[–] burningmatches@feddit.uk 1 points 2 years ago

While technically true, the number of formal and informal barriers to a single market for retail financial services in the EU is vast. Passporting is mostly just useful for corporate/wholesale business.