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09 March 2017

Brexit 'Weekly'


Capital Markets Union, DVP Securities Settlement, multispeed Europe, Brexit, EFTA, WTO, the European banking sector and more.

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Brexit & UK About this email

  Articles from 02 March 2017 - 09 March 2017

  Political
 
 
POLITICO: In Versailles, EU’s big 4 back multispeed Europe
With Britain’s departure looming, the leaders of the four largest remaining EU powers — Germany, France, Italy and Spain — met in Versailles and endorsed the concept of a multispeed Europe, in which members of the bloc would pursue greater integration but at each country’s own chosen pace.  View Article
Bruegel: European identity and the economic crisis
Some have argued that Europe is going through a serious identity crisis, whose roots are to be found in the economic crisis and whose implications could challenge further steps towards integration. Bruegel reviews the recent contributions to this debate.  View Article
Carnegie Europe: The EU’s Loss of Direction
The European Commission’s new white paper on the future of Europe lacks a strategic compass and ambition, writes Judy Dempsey.  View Article
 
  Financial
 
 
EBA: Vienna Initiative: New Working Group on Capital Markets Union for CESEE region
The Vienna Initiative has agreed to establish a Working Group on Capital Markets Union. This follows the European Union's push to strengthen Capital Markets which will have a major impact on financing of investment and sustaining growth in the Central, Eastern and South-Eastern Europe region (CESEE)  View Article
EBA sees good range of options in recovery plans but areas for improvement still remain
The European Banking Authority published its fourth thematic comparative Report on recovery planning. The focus of this comparative analysis is recovery options, which are crucial for assessing institutions' actual capacity to regain viability following a period of severe financial distress.   View Article
OMFIF: Hazards of relaxing financial reform
At a sensitive time for the world economy, there are calls in the US and Europe to undo parts of the reform programme. But legislators and regulators should beware of the hazards of relaxing, suspending or back-tracking on past advances.  View Article
EurActiv: Berlin continues quest for ‘European Monetary Fund’
The German government still wants to set up a European monetary fund but the European Commission does not want to surrender any responsibility for assessing eurozone finances.   View Article
 
  Economic
 
 
Financial Times: Draghi should resist calls to prepare exit from QE
After years of finding ever more radical ways to crank up monetary stimulus and stop the eurozone sinking into deflation, the region’s recovery is finally on a firmer footing.  View Article
 
  Budgetary
 
 
ACCA: Final Spring Budget is no spring for UK entrepreneurship
The final Spring Budget has been met with mixed reactions from ACCA. Chas Roy-Chowdhury, ACCA head of tax, comments on key issues including Making Tax Digital and business rates.  View Article
 
  Brexit & UK
 
 
Bloomberg: ECB official warns banks can’t keep EU access with shells after Brexit
UK banks trying to keep access to European Union markets after Brexit will have to set up full-scale operations in the bloc, European Central Bank Executive Board member Sabine Lautenschlaeger said.  View Article
The Guardian: US businesses warn the UK over loss of access to EU single market
A report commissioned by the American Chamber of Commerce in Europe has warned Theresa May ahead of article 50 negotiations that American investment in the UK, worth £487bn in 2015, has been largely based on the country’s EU membership and access to the single market.  View Article
Commons International Trade Committee: Government still unclear on trade after Brexit
The Committee said the Government must act quickly to bolster confidence and put the UK in the best position to forge new trading relationships after 2019.  View Article
Financial Times: Save Britain from the worst of Brexit by joining EFTA
The trade platform offers a practical and symbolic step for the UK’s new strategy, writes Liam Byrne, member of the House of Commons trade committee.  View Article
CBI's Drechsler: WTO rules would open a Pandora's Box
Leaving the EU without a deal and reverting to World Trade Organisation rules would open a Pandora’s Box of economic consequences, said the CBI President.  View Article
EU Home Affairs Sub-Committee: Government should pursue preferential agreement with EU on future migration
Offering preferential treatment to EU nationals in the UK's future immigration regime could increase the likelihood of securing reciprocal preferential treatment for UK nationals in the EU and improve the prospects achieving the UK's objectives on access to the Single Market, said in a report.  View Article
Bloomberg: Immigrants spur UK population growth, fueling Brexit debate
U.K. population growth is mostly being driven by net migration into the country, according to the Office for National Statistics.  View Article
Financial Times: Europe’s demands for cash before Brexit look legally shaky
Threatening Britain with a huge bill also undermines goodwill, writes Jonathan Ford.  View Article
The Guardian: UK will have to give up all EU perks after Brexit, François Hollande warns
French president says UK has made bad choice at bad moment and that he ‘will not give in to despair’ over EU’s future and Le Pen threat.  View Article
Bloomberg: Paris hopes for Brexit bank jobs run up against Frexit fears
There’s one big thing standing in the way of France luring banking jobs from London after Brexit: the prospect of Frexit.  View Article
Lords' Constitution Committee: 'Great Repeal Bill' should not be used to avoid parliamentary scrutiny
The Committee's report argues that Parliament should make sure the Government does not use delegated powers in the forthcoming ‘Great Repeal Bill’ as a way of changing the law in areas currently governed by the EU, without proper parliamentary scrutiny.  View Article
Financial Times: Broken engagement at the LSE is bad for the UK
Tying Britain's capital markets to Europe makes sense after Brexit, in the FT's View.  View Article
Financial Times: Julius Baer eyes UK acquisition but puts London hub on hold
Swiss private bank says Brexit has hit plans but sterling’s fall opens up opportunities.  View Article
POLITICO: EU watchdog pushes for transparent Brexit
Brussels should avoid backroom Brexit deals, European Ombudsman Emily O’Reilly is urging the Commission.  View Article
Financial Times: Spain and Poland plan ties with post-Brexit UK
Madrid and Warsaw have good reasons for wanting an amicable British departure from the EU. Each favours close post-Brexit relations with London. However, certain points of contention in the Brexit process may not be easy to clear up.  View Article
The Independent: UK public overwhelmingly oppose Theresa May's plan to leave EU with no deal in place
Even Tory voters do not give majority support to leave the EU with no deal if Parliament rejects the terms Ms May agrees with Brussels, a poll has revealed.  View Article
ECB's Lautenschläger: The European banking sector - growing together and growing apart
Sabine Lautenschläger, Member of the Executive Board of the European Central Bank and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, spoke about banking supervision at European level and Brexit.  View Article
 

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