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Exiting the European Union: Ministerial statement
Secretary of State David Davis made a statement in the UK House of Commons on the work of the Department for Exiting the European Union. View Article |
Andrew Tyrie: Giving meaning to Brexit
In a paper, published by Open Europe, Andrew Tyrie MP, Chairman of the Treasury Select Committee, outlines some of the choices available to the Government to give meaning to Brexit and the principles underpinning how it should proceed. View Article |
Financial Times: Article 50 is not for ever and the UK could change its mind
Jean-Claude Piris writes that, even after triggering Article 50 and notifying the EU of its intention to leave, there is no legal obstacle to the UK changing its mind, in accordance with its constitutional requirements. View Article |
Open Europe: Japan weighs in on Brexit negotiations
The Japanese government has become the first to formally weigh into the upcoming Brexit negotiations. Open Europe’s Raoul Ruparel examines the document released that lays out the key asks for Japanese businesses. View Article |
ESMA sees risk outlook deteriorate for EU securities markets
The risk outlook has deteriorated following the result of the UK referendum on EU membership. View Article |
Financial Times: Policymakers should not dilute City of London regulation
The answer to Brexit challenges is not a return to a light touch, in the FT View. View Article |
POLITICO: IFS report finds that membership of single market worth 4 percent GDP to UK
The UK could miss out on up to 4 percent of GDP if it leaves the single market after quitting the EU, according to a report released by the Institute for Fiscal Studies. View Article |
Financial Times: Fifth of City revenues could be hit by ‘hard Brexit’
A fifth of investment banking revenues in the City of London will be disrupted by a “hard Brexit” scenario that leaves the sector with restricted access to the EU single market, according to early estimates by the industry. View Article |
CFA Institute: Survey shows global investment professionals think impacts of Brexit will be ongoing
82% of respondents expect London to be a loser as a consequence of Brexit. Most expect uncertainty to last a year, but 44% expect it to last more than a year. View Article |
EurActiv: The silver lining to the Brexit cloud
Initial disbelief that the UK could have voted to leave is now replaced by acceptance that, “Brexit means Brexit”, writes Andrew Duff. View Article |
House of Lords: 'Scrutinising Brexit: the role of Parliament' follow-up inquiry launched
The House of Lords European Union Committee has launched a short inquiry on Brexit: parliamentary scrutiny. This inquiry follows on from the Committee’s short report on Scrutinising Brexit: the role of Parliament. View Article |
House of Lords: Brexit: UK-Irish relations inquiry launched
The Committee is conducting an inquiry into the impact of Brexit on the relationship between the United Kingdom and Ireland following the vote by UK citizens to leave the European Union. View Article |
Paul Goldschmidt: It behooves the European Union to impose a calendar for the Brexit negotiations
The continuing uncertainty surrounding the calendar for implementing Brexit is unacceptable. The Bratislava Summit final communiqué should specify a deadline for the UK to invoke Art. 50, and set the basis of a comprehensive program for EU reform. View Article |
Paul Goldschmidt: The European “Universal banking model”: A threat to economic, financial and social stability!
Encouraging bank lending (ECB) and capital market funding (EU) are incompatible objectives if the “universal banking model” is at the heart of the system, argues Paul Goldschmidt. View Article |
Daily Mail: City of London gears up for UK-EU financial trade talks
Two new bodies will advise the British government on negotiating new financial services trading terms with the European Union following the country's vote in June to leave the bloc. Graham Bishop has been appointed as member of the Financial Services Negotiation Forum. View Article |
Financial Times: City calls for continued access to single market after Brexit
The main lobby group for Britain’s financial services industry has called for continued access to the EU’s single market and to skilled staff from the region, setting it on a collision course with Brexit hardliners. View Article |
Financial Times: European group offers post-Brexit plan for UK
Britain should continue paying into the EU budget as part of a post-Brexit deal that would allow it to maintain access to key areas of the single market, according to a paper prepared by a group of five senior policymakers and scholars. View Article |
Financial Times: UK financial sector targets Swiss-style deal for EU market access
The City of London has given up hope of universal access to the EU single market and is now seeking a bespoke deal for its different sectors to trade with Europe, with similar but stronger ties than Switzerland. View Article |
Bloomberg: Global banks said to seek special Brexit deal to keep status quo
The world’s biggest banks are pressing Prime Minister Theresa May to strike an interim agreement with the European Union for financial companies before formal exit talks start, according to two people familiar with the matter. View Article |
Bloomberg: Ermotti says UBS could move 30% of London staff on Brexit
UBS Group AG may have to move as many as 1,500 jobs from London to elsewhere in the region in the wake of Britain’s decision to leave the European Union, Chief Executive Officer Sergio Ermotti said. View Article |
Financial Times: CBI head wants UK banks ‘off the naughty step’
The head of the CBI employers’ federation has urged the British government and regulators to allow the banking industry “off the naughty step” if the City of London is to fend off post-Brexit challengers to its position as Europe’s leading financial centre. View Article |
Bloomberg: EU companies to move away from UK banks on Brexit
More than a quarter of European companies plan to reduce the amount of business they do with UK banks after Britain exits the European Union, according to a survey by Greenwich Associates. View Article |
Financial Times: ICE backs London but admits Brexit fears
Intercontinental Exchange has talked up the City of London’s prospects, despite admitting that fears of a Brexit vote were behind its decision not to bid for the London Stock Exchange Group. View Article |
Hedgeweek: MUFG says AIFMs must ensure investors don’t pay for Brexit passporting fall-out
Tim Thornton, COO, MUFG Investor Services has commented that the loss of AIFMD passporting rights that enable UK-based alternative fund managers to market products across the EU has been one of the industry’s main concerns since the Brexit vote. View Article |
Bruegel: Brexit and its potential impact on international data transfers
If the UK exits the EU and the EEA, it will have to go to considerable lengths to enable continued data transfers from the EU. Without an agreement on data transfers and data protection, business in the UK and the EU will be disrupted. View Article |
John Iannis Mourmouras: A post-Brexit assessment of risks to debt sustainability in the euro area
The Deputy Governor of the Bank of Greece identifies the downside risks to euro area governments debt sustainability in the short- to medium-term, in the aftermath of the British referendum. View Article |
Paul De Grauwe: How to prevent Brexit from damaging the EU
The EU should offer the UK two options: either following a Norwegian style model or leaving entirely and negotiating a free trade agreement in the same manner as other nations such as the United States and Canada. View Article |
European Journalism Observatory: Will it kill us or make us stronger? How Europe’s media covered Brexit
Europe’s newspapers were overwhelmingly negative towards Britain’s vote to leave the European Union, according to a review of the press in 13 countries in the week after the referendum. View Article |
The Guardian: Electoral reform campaigners slam ‘dire’ EU referendum debate
The EU referendum debate was dominated by “glaring democratic deficiencies” that left voters disengaged and confused about contrasting claims, the Electoral Reform Society has said. View Article |
CEPS: The Impact of Brexit on the EU Budget: A non-catastrophic event
This paper finds that the impact of Brexit for the EU budget will be rather small due to the effects of the UK rebate and to the potential contribution the UK would be obliged to make as a condition to obtain access to the internal market. View Article |
Paul Goldschmidt: The negotiations over TTIP and Brexit
The recent hullabaloo surrounding the TTIP could be a foretaste of the problems facing the forthcoming Brexit negotiations. View Article |