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12 April 2018

Brexit Weekly

Future UK-EU relationship report, the Role of the European Court of Justice, British business reject Brexit 'Bonfire of rules', financial services see growing risks, 20th anniversary of the Good Friday Agreement, calls for a second referendum and more.

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  Articles from 29 March 2018 - 12 April 2018

  Brexit & UK
Future UK-EU relationship report published
In this third report of its overarching inquiry into the Article 50 negotiations, the Exiting the European Union Committee sets out key tests by which any deal agreed by October 2018 must be judged.  View Article
Senior European Experts: The Role of the Court of Justice of the European Union
This briefing explains why the Court is necessary to the EU, how it works day-to-day and the impact of its decisions on the UK and other EU Member States during the 45 years of our membership. It makes brief reference to other methods of dispute resolution in the context of Brexit.  View Article
The Independent: Brexit: UK businesses face storm of flawed legislation as ministers rush through laws, warn experts
UK businesses face a “storm” of flawed and poorly scrutinised laws, rushed through by government ministers with minimal parliamentary oversight after Brexit, top lawyers have warned.  View Article
Financial Times: UK asset managers oversee record £2.6tn for overseas clients
Asset managers in the UK oversee a record £2.6tn of assets for overseas clients, according to new research that highlights the level of cash at risk from a disorderly Brexit.  View Article
The Guardian: FCA sets aside £30m to smooth out Brexit process for City banks
The City watchdog has set aside £30m to deal with Brexit this year and has admitted it will need to scale back or delay some of its regular work to prepare for Britain leaving the EU in 2019.   View Article
BBC: Brexit: 'Bonfire of rules' mean more costs than benefits, CBI says
In a survey of 23 industry sectors published in a report by the CBI employers' group, the vast majority preferred continued close alignment with EU regulations.  View Article
City AM: UK must not neglect the EU when planning post-Brexit trade deals, says IoD
The EU has seen stronger growth as a market for UK exporters than either Asia or North America over the past two years, according to a recent survey from the group.  View Article
Financial Times: Norway offers to roll over UK trade agreements after Brexit
Norway’s government has signalled its co-operation with British wishes to roll over trade arrangements with non-EU countries in the transition phase after Brexit.  View Article
Lloyds Banking Group: Financial services sector fears UK growth will lag behind G7 as Brexit effect takes hold
The UK’s economic growth will be outpaced by all other G7 advanced nations this year - and Brexit remains the single biggest risk on the horizon - according to a new report from Lloyds Bank Commercial Banking, canvassing the views of the world’s biggest financial services firms.   View Article
ACCA: Financial services see growing risks a year before Brexit
UK financial services increasingly feel risks outweigh opportunities as Brexit draws nearer, according to the latest snapshot member survey by ACCA.  View Article
New Europe: Brexit remains the biggest threat to the UK’s economy
The UK financial markets watchdog urged coordination between British authorities and Brussels to ensure a smooth transition.  View Article
The Guardian: More migrant workers needed to offset ageing population, says IMF
The International Monetary Fund has said advanced economies such as Britain, the US and Japan risk being overwhelmed by their ageing populations, and calls on them to throw open their borders to more migrant workers in response.  View Article
The Guardian: EU leaders 'have accepted' that UK will not cancel Brexit
The EU has accepted that Britain will not be changing its mind on Brexit and may never return to the bloc after next year’s divorce, a leading European commissioner has said, as he warned that the country’s position in the world would be diminished rather than enhanced after its departure.  View Article
The Telegraph: Brexit one of the saddest times in history, Tusk says
Donald Tusk has described Brexit as “one of the saddest moments in 21st-century European history” and said Britain’s decision to leave the EU even made him “furious” at times.  View Article
Hillary Clinton: Don’t let Brexit undermine Ireland’s peace
Clinton, who run for the presidency of the US against Donald Trump, celebrates the 20th anniversary of the Good Friday Agreement writing in The Guardian that "those who say the Good Friday agreement has run its course are wrong. Reinstating the Irish border would be an enormous setback."  View Article
The Irish Times: Northern Irish Business Feeling Voiceless
The Irish Times reports on the concerns of business leaders in Northern Ireland with what they perceive as an absence of strong representation in Brexit talks from elected officials and a lack of clarity from the British government on its future trading relationship with the EU.   View Article
The Observer: New centrist party gets £50m backing to ‘break mould’ of UK politics
A new political party with access to up to £50m in funding has been secretly under development for more than a year by a network of entrepreneurs, philanthropists and donors keen to “break the Westminster mould”, the Observer can reveal.  View Article
Yanis Varoufakis and Benoît Hamon: Our new European party can unite Britain’s feuding remainers and leavers
The leaders of a new political movement reunited around a common manifesto that will contest in the next European Parliament elections write in The Guardian that they will campaign in Britain in 2019, "because all the peoples of Europe – inside the EU and out – face common crises."  View Article
Investment & Pensions Europe: Royal London forms Irish subsidiary to safeguard EU business
Royal London is to convert its existing business in Ireland into a subsidiary to allow the insurer to continue to do business in the Irish market once Britain leaves the EU in a year’s time.  View Article
Bloomberg: Britons back holding a vote on May's Brexit deal
A majority of Britons support holding a vote on the final Brexit deal secured by Prime Minister Theresa May, according to a YouGov poll conducted for the pro-remain group Best for Britain.  View Article
The Guardian: May could stay on and call referendum if Brexit bill defeated, says Tony Blair
Theresa May would not have to resign or call a general election if she is defeated in the Commons in a vote on the terms of the Brexit deal this autumn but could instead put the issue back to the people in a referendum, Tony Blair has said.  View Article
OMFIF: Britain's irreparable referendum wound
Joergen Oerstroem Moeller writes that a second referendum only makes sense if it looks like it can heal this wound. There is no evidence to suggest this coveted outcome could be achieved, says the author. A second referendum should be called only if the electorate views it as the right thing to do.   View Article
Reuters: Spain hopes for Brexit deal on Gibraltar before October: foreign minister
Spain hopes to sign off on a bilateral agreement with Britain over Gibraltar before October so as not to hinder a Brexit transition deal, Spanish Foreign Minister Alfonso Dastis told Reuters.  View Article

  Graham's tweets

EU head Donald Tusk weighed in on Brexit: "I believe Brexit is one of the saddest moments in twenty first-century European history. In fact, sometimes I am even furious about it.”

"If Britain decided to change its red lines, then we'd also change our positions," Michel Barnier says

Michel Barnier demands Britain signs Brexit 'non-regression clause'

One of Europe's most senior bankers has warned the City of London that it needs to be ready for a "cliff edge" exit from the European Union next year. Andreas Dombret, director of the German central bank, the @bundesbank, spoke to @bbcnickrobinson in Berlin #r4today #Brexit

Our monthly round-up of key political, regulatory, financial, economic items in EU/UK is out, with Graham Bishop's notes on the latest #Brussels4Breakfast debate @CSFI1 #euroclearing #bankingunion #NPLs #MiFID2 #CCPs #G20 #FBPE

British voters are asking for a say over the final #Brexit deal. The economic and political implications of the post-Brexit terms with Brussels may make people that voted Leave reconsider #EU membership under a new light #euroclearing #FBPE

Less than a year for an increasingly unlikely #Brexit - Read our latest article with Graham Bishop CPD Notes on today's 140th Brussels for Breakfast debate and the monthly round-up of key EU events #euroclearing #bankingunion #NPLs #MiFID2 #CCPs #G20 #FBPE

An architect of the EU wants to restart Europe — and move forward with fewer countries

UK financial watchdog cuts back operations to focus on Brexit

Polling we've commissioned shows 44% of the British public now want a #finalsay on the Brexit deal, an 8pt lead over those opposed.
Read more here >>>

#Brexit in a Year? [Probably] not. The current opinion polls are telling us good news!
#FBPE @euromove @EMInternational @emireland @euromoveBE
@open_Britain @BestForBritain @LibDemsinEurope @labour4europe @ToriesVsBrexit

© Graham Bishop

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