EU to offer Swiss exchanges 6-month reprieve, time until June to agree new treaty- sources

STRASBOURG, Dec 11 (Reuters) - The European Commission decided on Tuesday to offer Switzerland six additional months to agree on a new treaty that will govern the country’s future relations with the European Union, two EU sources told Reuters.

The political decision, which is to be formalised after talks with EU leaders at a summit in Brussels later this week, would allow Swiss stocks exchanges to maintain their access to EU clients until June under a temporary extension of the so-called “equivalence” regime that permits foreign financial firms to operate in the 28-country bloc.

Last Friday, the Swiss government dodged an EU deadline to agree on a draft treaty by the end of this year and said it would revisit the subject in spring 2019 after political consultations. (Reporting by Foo Yun Chee in Strasbourg and Francesco Guarascio in Brussels)