Barnier Says Brexit Means Banks Lose EU Passporting

The video discusses Brexit, emphasizing that it means Brexit and its implications on market access for UK firms. It highlights the proposed joint UK-EU rules and the new symmetrical process outside the European Court of Justice's jurisdiction. This proposal contradicts the EU's April guidelines, which stress EU decision-making autonomy and legal order integrity. The legal consequence of Brexit is that UK financial service providers will lose their EU passport.

How does Brexit affect the legal order and single market integrity according to the text?

What is the legal consequence of Brexit for UK financial service providers?