The EU has indicated that Britain is likely to gain access to its single market bloc following the transitional deal hammered out by negotiators from both sides.

On Monday, Britain’s John Phillip Glen, stated that the European Union has indicated that it is willing to provide some form of access to Britain’s financial sector after Brexit.

The transitional deal, agreed by Britain and the EU last month, allows financial firms to strategize their future planning with confidence.

“The fog is clearing … We are already seeing progress,” said Glen to the audience at the CityWeek conference in the Square Mile’s Guildhall. “The EU have now recognized that there will be some of market access in financial services having previously dismissed the idea.”