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UK Will Lose Finance Business To EU, Germany's Scholz Says

Law360, London (February 8, 2019, 7:01 PM GMT) -- German Finance Minister Olaf Scholz said Friday the country was prepared should Britain crash out of the European Union next month without a deal and that the bloc would win financial business from the U.K. as a result of the exit.

Chancellor Angela Merkel's Social Democratic finance minister said he was "nervous" about the lack of progress made on securing a Brexit deal and that a disorderly exit from the EU in just 49 days may be hard to avoid.

However, he said Germany was well advanced in its preparations to ensure there will be no "sharp edge" for financial services...

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