Reuters, DAVOS, SwitzerlandTop bankers are confident that British Prime Minister Theresa May’s government will support a transition period of several years for the financial sector to cope with the UK’s exit from the EU. May on Thursday met the heads of major US financial firms at the World Economic Forum in Davos, Switzerland, to discuss their concerns. May on Tuesday confirmed that Britain would quit the single market when it exits the union, although she said she would back an “implementation” period. They talked about changing the name from ‘transitional’ arrangement to something that was less open for negotiation,” the source said. “We want a standstill arrangement for three years, that would kick in after the government’s negotiations on Brexit are finalized,” McFarlane said.

Source: Taipei Times January 20, 2017 16:05 UTC