► Read more at https://on.ft.com/2OatFVp

FT financial editor Patrick Jenkins explains what the battle between Brussels and the UK is about over the future relationship of the City of London with the EU, and why EU chief negotiator Michel Barnier has rejected the UK's ‘enhanced equivalence’ plan

► Subscribe to FT.com here: http://bit.ly/2GakujT

► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs

For more video content from the Financial Times, visit http://www.FT.com/video

Twitter https://twitter.com/ftvideo
Facebook https://www.facebook.com/financialtimes