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BREXIT: Luxembourg ministers meet finance industry in London

Luxembourg's finance and economy ministers held meetings in London this week to discuss how Luxembourg can work with the UK post-Brexit.03 Aug 2016

This is part of Out-Law's series of news and insights from Pinsent Masons experts on the impact of the UK's EU referendum. Watch our video on the issues facing businesses and sign up to receive our 'What next?' checklist.

Finance minister Pierre Gramegna held talks with chief secretary to the Treasury, David Gauke, as well as with representatives of the City of London Corporation. Deputy prime minister and minister of the economy Etienne Schneider met representatives of the Confederation of British Industry (CBI) the Luxembourg Ministry of the Economy said.

"With the strong commercial and financial relationships that have long been in place between the two countries, it is in Luxembourg's interests to work with the EU to ensure that the UK is not isolated," said Schneider.

Gramenga met representatives of the City of London Corporation and of the banking and fund sectors to discuss the implications of Brexit and the role that Luxembourg may be able to play in the sector, the Ministry said.

"Luxembourg is seen as haven of stability, offering a reliable legal framework and pragmatic solutions. The constructive approach of the Luxembourg government, in contrast to the aggressive actions of some other financial centres, is greatly appreciated by British organisations," Gramenga said. 

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