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14 November 2019

Brexit Weekly

Brexit party not to divide Leave vote, which gives a boost to Tories ahead of General Election, UK avoids recession but Moody's downgrades UK credit outlook, ESMA advises Commission on third-country CCPs while trade organisations call for extension of equivalence and more.


We are moving into the end-game of Brexit - even Council President Tusk is urging the Remainers to keep fighting into the penalty shoot-out!

If you are interested in European finance, we are targeting the interaction of the driving forces of politics and economics as they force the required changes in over-arching financial regulation - including ESG and Fin Tech. Details of these services are here

Articles 7 November 2019 - 14 November 2019
Nigel Farage -

The Guardian: Brexit party will not contest 317 Tory-won seats, Farage says : Nigel Farage has said the Brexit party will not field any candidates against the Conservatives in the 317 seats they won at the last general election, after Boris Johnson committed to leaving the EU by 2020 and pursuing a Canada-style trade deal. View Article
The Times: Tories gain 14-point general election poll lead after Brexit Party retreat : Boris Johnson has opened up a 14-point poll lead over Labour after Nigel Farage’s decision to pull Brexit Party candidates out of Tory-held seats. View Article
BBC: General election 2019: Liberal Democrats, Greens and Plaid Cymru agree pact : The Liberal Democrats, Plaid Cymru and the Green Party have formed an electoral pact, agreeing not to stand against each other in dozens of seats. View Article
Chatham House: Why Britain’s 2019 election is its most unpredictable in recent history : Leadership concerns and a collapse of traditional party loyalties make the December vote uncommonly volatile, writes Professor Matthew Goodwin. View Article
City AM: Bank of England: Brexit deal and trade wars will limit UK growth : Boris Johnson’s Brexit deal and global trade tensions are likely to hold back growth in the UK economy over the next three years, the Bank of England has said. View Article
The Guardian: UK avoids recession but Brexit uncertainty damages growth : Britain’s economy avoided a recession in the third quarter after it expanded by 0.3% but the annual pace of growth was the slowest for nearly 10 years as Brexit uncertainty depressed business activity. View Article
Financial Times: Moody’s lowers UK credit outlook to negative on Brexit ‘paralysis’ : Moody’s has lowered the UK’s credit outlook to negative, saying Brexit “paralysis” has made policy making less predictable. View Article
Bloomberg: UK job market weakens as election battle heats up : The UK economy lost jobs in the third quarter and vacancies posted their largest annual decline since the financial crisis, just as the country faces a snap general election. View Article
Trade organizations call for extension of temporary equivalence and recognition of UK CCPs : ISDA and 13 other financial services trade associations wrote to European Commission Vice President Valdis Dombrovskis to highlight the need for an urgent extension to the temporary equivalence determination for UK central counterparties. View Article
The Global City: Providing Financial Services to the World : Exports from UK financial services and insurance firms soared to a record high of £82bn last year, up from £78bn in 2017, according to new data published in the ONS Pink Book.  View Article
Bloomberg: German banking giant moves trades from London to Frankfurt ahead of Brexit : An intermediary for German savings banks has moved some of its trades from London to Frankfurt, in a boost to the city’s standing as a post-Brexit finance hub. View Article
The Guardian: Boris Johnson set to break pledge not to nominate EU commissioner : Boris Johnson’s government appears to be preparing to nominate an EU commissioner, potentially breaching another Brexit promise after he failed to meet his “do or die” deadline to leave on 31 October. View Article
YouGov: Four in ten mainland Britons don’t care about Northern Ireland : Britons are more interested in getting their way on Brexit than preserving Northern Ireland’s place within the UK. View Article
Boris Johnson - Portadowntimes
The Guardian: Johnson accused of misleading public over Brexit deal after NI remarks : Boris Johnson has been accused of misleading the public about his own Brexit deal, after footage emerged of him telling exporters in Northern Ireland they will not need to fill in extra paperwork. View Article
Financial Times: Former Conservative minister warns risk of no-deal Brexit remains : David Gauke, the former justice secretary, has warned that a Conservative victory in the upcoming general election would put the UK on course for a no-deal Brexit at the end of 2020. View Article
Joseph Rowntree Foundation: Low-income voters could be a crucial force at the next election, according to landmark research : A landmark report by the independent Joseph Rowntree Foundation (JRF) bringing together four years’ worth of political attitudes research shows how low-income voters could prove to be a crucial force at the next election. View Article
City AM: Half of UK citizens think the country will not exist in a decade : More than half of UK citizens think the country will not exist in its current form a decade from now, according to a new poll. View Article
BBC: Students more likely to vote tactically on Brexit : More than half of students are ready to vote tactically in the general election, with Brexit the key factor, according to research. View Article
Financial Times: Friends and enemies: France is a big loser from Brexit : When Britain leaves, the power imbalance between Berlin and Paris will be laid bare, warns Philip Stephens. View Article
Graham Bishop #FBPE retweeted
Tusk: "I have been called a romantic and an anglophile, both terms, in my opinion, quite suitable and merited. Most importantly, however, Brexit hasn't divided us."
Graham Bishop #FBPE retweeted
The Independent The Independent
Elon Musk says Brexit made him decide against Tesla electric car Gigafactory in UK…
Graham Bishop #FBPE retweeted
Bloomberg Brexit Bloomberg Brexit
The U.K. economy loses jobs in the third quarter and vacancies post their largest annual decline since the financial crisis in further evidence that Brexit uncertainty is finally hitting the labor market
Graham Bishop #FBPE retweeted
BBC Politics BBC Politics
Nigel Farage says the Brexit Party will not contest the 317 seats the Conservatives won at the last election, claiming it's the best way to "prevent a second referendum" He had previously said his party would fight up to 600 seats [tap to expand]

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