@Walter Hinteler,
Michel Barnier and Ursula von der Leyen's spoke to MEPs this morning.
Barnier, the EU’s chief Brexit negotiator, said Brussels would reject UK demands for British banks to have get "permanent" equivalence recognition guaranteeing them access to EU markets.
He said the British government had yet to explain whether or not it wanted to abandon the European economic and social model.
Barnier and Ursula von der Leyen, the European commission president, both stressed that the extent of the UK’s access to the single market under the trade deal would depend on its willingness to remain aligned to EU rules.
Von der Leyen gently mocked Boris Johnson’s suggestion that an Australian trade arrangement would be an acceptable outcome for the UK.
She said she welcomed Johnson’s commitment to free trade in his Brexit speech last week - because she say free trade as a means of raising standards.
Full Speech