Why might the City of London get a special EU deal?

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According to the FT this morning the UK might agree to pay billions a year to keep the City of London, but not the rest of the UK in the EU Single Market.

Three thoughts. First, as ever the City proves itself a state within a state. But in that case, why not separate deals as well for Scotland and Northern Ireland who also voted to Remain?

Second, who pays for this? And how? There is no way the City should receive a UK wide subsidy.

Third, why the City alone when it is the one part of the economy that needs to shrink if any form of rebalancing is to take place?

Bluntly, the City's self interest and financial power apart, is there any logic at all to this suggestion?