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Financial Times: Supreme Court rules MPs must vote on triggering Brexit
In one of most important constitutional cases of modern times, the Supreme Court ruled by a majority of 8 to 3 that the prime minister cannot use royal prerogative to trigger Article 50 and start the UK’s two-year exit from the EU. View Article |
Speech by the President of the Eurogroup, Jeroen Dijsselbloem, at The Future of Europe event
Dijsselbloem discussed the ESM banking programs, the Banking Union, the Italian banking crisis, Brexit, the beginning of Trump's presidency and the forthcoming general elections in Germany, France and the Netherlands. View Article |
Bloomberg: EU says UK Banks must retain its standards to keep access
European Union finance ministers threw down the gauntlet to the U.K., warning that London banks will lose access to the bloc if Britain veers from financial regulations written in Brussels. View Article |
Financial Times: ECB steps up warning on UK euro clearing after Brexit
The European Central Bank has stepped up its warning that it will be difficult for the UK to hang on to its valuable euro-clearing business after Brexit, calling for EU institutions to seek more, not less, oversight of the trade in London once Britain leaves the bloc. View Article |
TheCityUK: The EU's Third Country Regimes and Alternatives to Passporting
A new report, released by the International Regulatory Strategy Group (IRSG) in collaboration with Hogan Lovells, concludes that the focus of the Brexit negotiations should be on designing and delivering a bespoke UK-EU deal rather than reforming or adapting existing frameworks. View Article |
City AM: London must lose clearing crown after hard Brexit, warns BlackRock boss
London will not be able to play a central role in the core functions of European financial markets like clearing in the event of a so-called hard Brexit, the vice chairman of the world’s largest asset manager has warned. View Article |
Financial Services Negotiating Forum: Euro Clearing and Brexit - The Practitioners' View
The FSNForum published its second research piece, considering the EU’s proposal that the clearing of euro-denominated products should be restricted to the Eurozone. View Article |
Wolfgang Münchau: Europe will pay unless the Brexit deal is a fair one
A sudden departure could end up permanently damaging the EU. View Article |
Andrew Duff: How does Europe now see Brexit?
Theresa May’s Lancaster House speech marked the point at which Brexit became a reality for the rest of Europe. View Article |
UK economy set for a ‘hard rebalancing’ says EY ITEM Club
The recent slump in sterling should prompt a significant readjustment of the UK economy away from consumer spending towards exports, according to the EY ITEM Club winter forecast. But while economic growth will be better balanced it is also likely to be slower. View Article |
The Economist: Doing Brexit the hard way
Theresa May opts for a clean break with Europe. Negotiations will still be tricky. View Article |
Bloomberg: Bankers worry post-Brexit transition won’t be long enough
Global banks, already accelerating plans to pull back from London as Brexit looms, are increasingly concerned that Prime Minister Theresa May is underestimating the time they’ll need to adjust to the upcoming changes in trade and regulations. View Article |
Bloomberg: EU courting of London banks may derail 5-year Tobin tax push
German and French efforts to lure U.K.-based banks unsettled by Brexit may stumble over an obstacle of their own making - a planned tax on financial transactions. View Article |
The Guardian: Financial firms in talks with Amsterdam over relocation from London
Dutch capital confirms negotiations in wake of Brexit vote but country’s strict cap on bankers’ bonuses remains an obstacle. View Article |
Financial Times: Private equity looks to Luxembourg for access to single market
Leading private equity groups are applying for the right to market and distribute funds in Luxembourg as the likelihood fades that the UK will remain in the single market, several people familiar with the matter said. View Article |
Investment & Pensions Europe: Global asset owners bracing for Brexit impact
Four in five institutional investors are expecting an impact on operations from Brexit, according to a survey conducted by State Street. View Article |
Commercial Risk Europe: Interest rising in Malta as onshore option for UK insurers post Brexit
Interest among UK insurers in Malta as an option to access the European Union via freedom of services post Brexit is rising steadily, based on attendance at a briefing on the market held recently in London. View Article |
Commercial Risk Europe: May’s Brexit speech will not stop Lloyd’s search for new home in Europe
Lloyd’s will plough on with its contingency plans to open a subsidiary within the EU regardless of the UK government’s position on Brexit, the corporation’s CEO Inga Beale said. View Article |
Bloomberg: May set to defy EU by opening pre-Brexit global trade talks
UK officials are preparing to fire the starting gun on trade negotiations with countries outside the European Union within months, defying warnings from the bloc that such action would be illegal. View Article |
Paul Goldschmidt: What answer to Trump's inaugural address?
The American President’s speech calls for an immediate answer without any complaisance because, in the face of the slogan “America first”, the only possible answer is the assertion of a European Union fully prepared to defend its own interests. View Article |
The Economist: Europe gets ready for Donald Trump
The next American president seems to view the EU with indifference or contempt. View Article |
Financial Times: Take the US president’s protectionism seriously
When the US president said in his inaugural address that “protection will lead to great prosperity and strength”, he was proposing the most dramatic changes in trade policy in years. View Article |