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Jean-Claude Juncker: UK faces hefty Brexit bill
European Commission President Jean-Claude Juncker promised two years of "tough negotiation", when discussions on leaving terms get under way between the government and the European Union. View Article |
Financial Times: Brussels focuses on UK’s €60bn exit bill before trade talks
The EU’s Brexit negotiators expect to spend until Christmas solely discussing Britain’s divorce from the bloc, denying London any trade talks until progress is made on a €60bn exit bill and the rights of expatriate citizens. View Article |
Bruegel: The Brexit bill: uncertainties in the estimate of EU pension and sickness insurance liabilities
Pension and sickness insurance liabilities for EU staff could be an especially contentious part of negotiations on an EU-UK financial settlement. This post looks behind the calculation of the alleged cost of pension benefits and concludes that it may be less than half of what it seems. View Article |
Financial Times: Former UK top diplomat warns EU will oppose specific Brexit deals
The former UK ambassador to the EU Sir Ivan Rogers said Merkel and other leaders will reject single market access for some sectors. View Article |
Financial Times: BoE deputy hits back at EU threats over euro clearing
Sir Jon Cunliffe hit back against claims from senior European politicians over stripping the City of London of its role as a hub for eurozone clearing after the Brexit vote. View Article |
IRSG Paper on CCPs post-Brexit
This paper discusses the implications for banks and end-users of financial markets, if the current legal and regulatory framework for Central Counterparties continued unchanged after Brexit. View Article |
PIIE: To make the best of Brexit, the European Union needs to beef up ESMA
With Britain’s departure from the EU single market nearly certain to occur before mid-2019, the EU-27 should not wait to adapt its financial regulatory structure to successfully manage the resulting shifts, argue Nicolas Véron and Dirk Schoenmaker. View Article |
Financial Times: Brexit casts doubt over rating agencies’ future in London
Credit rating agencies’ activities in London have been thrown into doubt by Brexit, as the UK government faces the prospect of cobbling together a new regulatory regime for institutions often blamed for exacerbating the financial crisis. View Article |
The Guardian: Divide and rule tactics could leave UK without deal, say EU politicians
British attempts to “blackmail and divide” EU countries in the run-up to Brexit negotiations will lead to a disastrous “crash-landing” out of the bloc, European politicians have told the Guardian. View Article |
The Guardian: French senate report says UK must not be better off after Brexit
Cross-party inquiry also rules out privileged EU access for some UK sectors and says 200,000 jobs are at stake in the City. View Article |
Bloomberg: UK said to plan Brexit trigger close to EU summit in early March
Prime Minister Theresa May intends to trigger Britain’s withdrawal from the European Union as close as possible to the EU summit taking place on March 9 and March 10, according to two government officials involved in Brexit planning. View Article |
The Guardian: Losing banking jobs to EU 'threatens financial stability across Europe'
Concern growing in the City that Brexit-related bank moves could unravel related professions and risk wider financial turmoil. View Article |
Financial Times: Turkey border gridlock hints at pain to come for Brexit Britain
Truck drivers bemoan long queues and endless paperwork needed to enter EU. View Article |
The Guardian: 'No deal' Brexit would mean £6bn in extra costs for UK exporters
Guardian analysis shows falling back on WTO rules would mean steep bills for industries including fashion, agriculture, cars and ceramics. View Article |
CEPS: Brexit and the Asset Management Industry
In this ECMI Policy Brief, Karel Lannoo observes that Brexit will have a big impact on the asset management industry and he express 3 main reasons. View Article |
Hedgeweek: AIFMD passport no longer seen as the ‘silver lining’
Securing a third-country passport to access European investors is no longer viewed as the go-to solution it once was by the UK investment fund sector, according to Tim Hames, the Director General of the British Private Equity & Venture Capital Association (BVCA). View Article |
Financial Times: Insurers warned of risks to not completing Brexit plans
One of London’s most senior insurance executives has warned that the industry may struggle to complete its Brexit preparations before the UK leaves the EU. View Article |
The Guardian: EU citizens living in the UK could face legal limbo after Brexit
The EU fears millions of its nationals living in the UK will be left stranded in a legal no man’s land after the country leaves the EU because of the weaknesses of the British immigration system, a document obtained by the Observer reveals. View Article |
Bloomberg: Norway pleads to be included in EU-U.K. market 'arrangements'
Norway, the largest natural gas exporter to the U.K., pleaded to be included in any “arrangements” made between the European Union and the UK on access to the internal market. View Article |
Bloomberg: Brexit to hit jobs, wealth and output for years to come, economists say
The broad consensus among economists is for a prolonged Brexit effect that will ultimately diminish output, jobs and wealth to some degree. View Article |
Peter Mandelson: The entire British public, not just the Brexiteers, deserve a vote on the terms of Brexit
Parliament’s role is to deliberate and weigh up the most sensible way to reflect public opinion. Instead, PM May has gone full pelt to avoid any public debate about Britain’s options in Europe while rushing off to Washington to show we are not friendless, writes Lord Mandelson in The Independent. View Article |
Bloomberg: Blair urges Brexit opponents to rise up and fight to stay in EU
Tony Blair urged opponents of Brexit to “rise up” and fight to change the British people’s minds about leaving the European Union, in a speech that aimed to show UK Prime Minister Theresa May that she won’t get everything her own way. View Article |
Bloomberg: Italy forms task force to lure financial firms after Brexit
Italy has formed a task force to lure financial firms from London after Brexit, attempting to attract banks, asset managers and private equity companies to Milan by offering tax incentives for high-skilled talent. View Article |
ACCA: Accountants will be in demand during Brexit process
According to a new study commissioned by AAT and the ACCA, members of Parliament believe accountants will be increasingly in demand during the Brexit process. View Article |
Remarks by President Donald Tusk after his meeting with Vice President of the United States Mike Pence
The European Council president met the US Vice President during the first official visit of a member of the newly appointed Trump administration to Europe. View Article |
CEPS: Regroup and Reform: Ideas for a more responsive and effective European Union
This report offers concrete recommendations for how the Union can show added value to European citizens in the areas of security and justice, socio-economics and monetary policy. View Article |
Bruegel: Europe in a new world order
In this paper the authors explore what the EU’s strategic reaction should be to US diminishing giant policies, and the EU’s role in a world of declining hegemony and shifting balances. View Article |