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06 July 2017

Brexit Weekly

Brexit, ECJ, EU citizen's right and more.

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Articles from 29 June 2017 - 06 July 2017

Brexit & UK

ECJ President: UK firms will be ‘begging’ for court’s jurisdiction after Brexit
British companies operating in the EU will be “begging on their knees” for the jurisdiction of the European Court of Justice after Brexit, the Court’s president has warned.  View Article
Financial Times: Labour party calls on May to drop ECJ ‘red line’
The Labour party has called on Theresa May to drop her “ideological and deeply unhelpful red line” over the European Court of Justice in order to retain access to key EU organisations.  View Article
The Guardian: Lord chief justice urges enforceability of EU rulings in UK post-Brexit
City and legal profession will suffer without mutual agreements to recognise EU and British court judgments, says Lord Thomas.  View Article
Financial Times: City of London delegation to press Brussels for free-trade deal
A delegation of City of London business leaders, led by former City Minister Mark Hoban, will go to Brussels this week to press for a post-Brexit deal on financial services, according to Financial Times.  View Article
City AM: Leaving the Single Market would be an act of economic self-harm
If leaving the Single Market is a bad choice for the economy of our country, ought politicians not to give that more mind, asks Labour MP Alison McGovern.  View Article
CBI: Economic activity slows in three months to June
Growth in the UK’s private sector slowed in the three months to June, according to the most recent CBI Growth Indicator.  View Article
Financial Times: Europe’s SMEs risk becoming big losers of ‘hard Brexit’
Europe’s small and mid-sized companies will be among the biggest losers if banks are hit by tens of billions of restructuring costs and extra capital requirements in a “hard Brexit” scenario, according to a report commissioned by AFME.  View Article
The Guardian: UK considers potential shortcut on trade deals post-Brexit
Associate membership of European Free Trade Association could give UK access to trade deals while it negotiates its own.   View Article
Financial Times: Jeremy Corbyn is a Brexit bystander
Unless Labour leader softens his stance, he will be unable to exploit Tory divisions, in the FT's view.  View Article
The Guardian: Most British citizens say EU nationals should be able to vote in UK
Survey finds most people support EU citizens voting locally after Brexit, and nearly half say same for general elections.  View Article
Financial Times: British businesses lobby for fewer visa restrictions post-Brexit
British businesses are lobbying for a visa system that allows unrestricted entry for talented overseas entrepreneurs and tech experts post-Brexit.   View Article
POLITICO: A third way on the customs union
UK officials talk up a deal that covers trade in goods while also allowing new agreements on services.  View Article
The Guardian: May's Brexit plan could hit rights of Britons abroad, campaigners tell EU
British in Europe and the3million say UK proposal would severely reduce the rights enjoyed by Britons living in Europe.  View Article
El Mundo: Spanish frustrated after May's offer for EU citizens
Following Theresa May’s announcement of plans to establish a new ID card for EU citizens following Brexit, El Mundo spoke with Spanish nationals resident in the UK who described the proposals as misleading and insufficient.   View Article
BBC News: UK expats in Spain outnumber Spanish in UK
There are almost two-and-a-half times as many UK citizens living in Spain as Spanish citizens resident in the UK, says BBC News.  View Article
Financial Times: The door is open to a Brexit deal on freedom of movement
EU governments could accept an emergency brake on immigration, says Nick Clegg.  View Article
OMFIF: 'Global Britain' under threat
UK losing soft power in the 12 months since the UK's referendum decision to exit the European Union, writes Danae Kyriakopoulou.  View Article
ICAEW: Good for UK, good for Europe
As the world’s leading financial centre, London serves as a gateway to Europe for global investors and a gateway to the world for European businesses looking to expand and invest overseas, claims Lord Mayor Andrew Parmley.  View Article
Hedgeweek: Over 75 per cent of UK fund managers frustrated by lack of Brexit consultation
More than three quarters (77 per cent) of UK fund managers believe that the UK Government should have consulted the asset management industry more before commencing Brexit negotiations, according to a new report from MJ Hudson.   View Article
Die Presse: UK will leave budget gap
Following Budget Commissioner Oettinger's warning that the UK.’s departure in 2019 would leave €9-12 billion hole in the EU’s roughly €150 billion annual budget, Die Presse comments on the fact that the expected cuts will then most likely affect the agricultural sector and regional funds.  View Article
ACCA: Shadow economy contributes to over 10% of UK GDP
The UK is expected to see a slow decline in its ‘shadow economy’—the production of and trade in legal goods and services that are deliberately concealed from public authorities - by 2025, according to a new study from ACCA.  View Article
Financial Times: Deutsche Bank boosts German base to cope with chaotic Brexit
Deutsche Bank has begun work on a new Frankfurt booking centre that would limit the fallout if the German lender was forced to turn its London branch into a subsidiary when Britain leaves the EU.  View Article
Financial Times: A diminished Britain must be realistic about the Brexit talks
Although Brexit will happen in March 2019, we have scant idea how or on what terms, writes Simon Fraser.  View Article

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