Brexit

Barclays chairman says EU has ultimate control over Brexit

John McFarlane reminds the City that it is the EU's remaining 27 member states that must rubber stamp any deal

John McFarlane, chairman of Barclays
John McFarlane, chairman of Barclays Photo: Getty Images

The chairman of UK lender Barclays has said the UK does not have the stronger hand in negotiations regarding its exit from the European Union, which began in Brussels this week.

John McFarlane, who also chairs industry lobby group TheCityUK, told Financial News that "clearly" the UK was not entirely in control of the outcome. He said that "whatever happens" the European Union's remaining 27 members would have to agree to any deal.

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