UK will most likely leave doors open to banks and investors from European Union to protect position of London as global financial center, Reuters reports. It will happen even if the country is not able to reach acceptable trade agreement with the bloc, experts think.

London was always a market open for all players and provided favorable conditions for operation of international financial institutions.

Limited access of EU banks to UK’s market is disadvantageous for both sides. Bloc needs London’s expertise to manage 1,2 trillion of investors’ assets, issue bonds. It will be difficult for EU to create a substitute for London without huge expenses that nobody want to bear at the moment.

At the same time about 43% of international sales of UK’s financial services comes from EU, which is the largest export market for the sector. It will be hard to replace.