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21 November 2019

Brexit Weekly

EU to extend temporary access to UK clearing houses, major trade partners seek compensation from UK and EU over Brexit, EU tells Boris Johnson he will get ‘bare bones’ Brexit trade deal or none at all 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 14 November 2019 - 21 November 2019

Bank of England: Statement on the delegated regulation changes published by the European Commission : Firms are reminded that on Wednesday 1 January 2020 the deferred part of the delegated regulation changes published by the European Commission on Tuesday 18 June 2019 will come into effect which may impact the calculation of the Solvency Capital Requirement (SCR). View Article
IPE: No UK input to IORP stress test as EIOPA flags ‘insufficient coverage’ : No UK data has been provided to EIOPA for the purpose of its 2019 stress test of European pension funds. EIOPA has been carrying out the stress tests every two years. The national supervisory authorities are responsible for co-ordinating the exercise in their member states. View Article
Financial Times: EU to extend temporary access to UK clearing houses : Brussels is planning to extend temporary market access to UK clearing houses as it steps up preparations to prevent financial turmoil should Britain crash out of the EU. View Article
Financial Times: UK politicians must set out the future for finance : The City is owed an explanation of how Britain will trade with the EU, the FT editorial board says. View Article
POLITICO: Major trade partners seek compensation from UK and EU over Brexit : Some 15 countries — including heavyweights such as Australia and the US — raised concerns over their commercial losses at the meeting of the World Trade Organization's goods council, according to a Geneva-based official in the room. View Article
The Sun: EU trade boss tells Boris Johnson he will get ‘bare bones’ Brexit trade deal or none at all : The EU’s trade chief has controversially declared Boris Johnson will either get a “bare bones” trade deal from Brussels next year or none at all. View Article
RTE: UK consumers will expect EU standards in FTA - Hogan : Ireland's EU commissioner Phil Hogan has said British consumers will expect the UK to sign up to the EU’s labour, environmental and food standards as part of a free trade agreement for which he will be chief negotiator next year. View Article
European Commission launches infringement proceedings against the UK following its failure to name a candidate for EU Commissioner : The European Commission has sent a letter of formal notice to the United Kingdom for breaching its EU Treaty obligations by not suggesting a candidate for the post of EU Commissioner. View Article
Boris Johnson vs Jeremy Corbyn debate - Daily Mail
Joergen Oerstroem Moeller: Brexit: British General Elections and What next? : At stake in the upcoming General Elections is not only Britain’s future in Europe, but its societal model, economic policies, and place in the world. Furthermore the UK may break up, losing Scotland and Northern Ireland in its way towards the EU exit. View Article
The Telegraph: Boris Johnson: 'Every Tory election candidate has pledged to back my Brexit deal' : Boris Johnson revealed that every Conservative parliamentary candidate has personally pledged to vote his Brexit deal through the House of Commons if he wins a majority. View Article
Boris Johnson: ‘Bags of time’ to negotiate post-Brexit EU relationship : Boris Johnson has said that one year is “bags of time” to negotiate a new free-trade agreement and post-Brexit relationship between the UK and EU. View Article
The Guardian: Boris Johnson is deluded if he thinks he can ‘get Brexit done’ in a hurry : Even if the Tories gain a majority, the UK faces a long wait for a trade deal with the EU to be negotiated, warn Anand Menon and Catherine Barnard. View Article
Financial Times: An inflexible Brussels is damaging its own interests over Brexit : The EU has seen legal constraints where there are in fact only political choices, writes the UK in a Changing Europe director Anand Menon. View Article
EurActiv: Why Brussels shouldn’t be scared of Singapore-on-Thames : Boris Johnson wants to turn the UK into a low-tax, lean-regulation paradise attracting business from the continent. The plan won’t work, writes Joseph de Weck. View Article
Chatham House: Boris Johnson could emulate Donald Trump’s election victory : With four weeks to go, the UK is experiencing not only its most important election in living memory, but its most unpredictable—and one in which a minority of voters could impose Brexit on the majority, says Peter Kellner. View Article
Financial Times: Business warns on Tory points-based immigration system : Business groups have expressed concerns over Conservative party plans to cut immigration if they win the general election by making it harder for low-skilled migrants to come and work in the UK after Brexit. View Article
Gordon Brown: We are becoming a United Kingdom in name only. Politicians must heal the divide : Former British prime minister Gordon Brown highlights a Hope not Hate poll that warns that 77% of British people now think Brexit is feeding prejudice and making the UK more divided than ever. View Article
The Guardian: Voters have choice of Tory no-deal Brexit or second referendum, says David Gauke : Voters are facing a stark choice between a Tory no-deal Brexit at the end of next year if the Conservatives win a majority at the general election and a second referendum with the option to Remain if they fail to do so, the former Tory cabinet minister David Gauke has said. View Article
POLITICO: Lib Dems launch ‘stop Brexit’ manifesto ahead of UK general election : Jo Swinson has unveiled the Liberal Democrat manifesto ahead of the UK general election, with a central pledge to cancel Brexit. View Article
The Independent: Boris Johnson government will not carry out any economic impact assessment of his Brexit deal, officials admit : No analysis of the likely economic damage from Boris Johnson’s Brexit deal will be carried out, the government has admitted. View Article
Graham Bishop #FBPE retweeted
Isabel Schnabel Isabel Schnabel
Dear fellow German economists, if you are wondering what you can do for Europe: Please help to dispel the harmful & wrong narratives about the @ecb's monetary policy, floating around in political and media circles. These threaten the euro more than many other things.
Graham Bishop #FBPE retweeted
<a href=FT Brussels" src="" /> FT Brussels
Brexit talks: the brutal reckoning that awaits the UK
Graham Bishop #FBPE retweeted
<a href=FT Brussels" src="" /> FT Brussels
France and Italy warned by Brussels over high debt levels
Graham Bishop #FBPE retweeted
Michel Barnier Michel Barnier
We must fight for a strong Europe in a world of many challenges. #Brexit is only 1 of them. Negotiations have often been difficult. But never has the EU lost sight of its core interests. Never have we let go of our unity and solidarity My speech in Zagreb!uh83wV
Graham Bishop #FBPE Graham Bishop #FBPE
Want the next #BrusselsForBreakfast debate @CSFI1 to be tailored to your interest areas? You can now send me your suggestions for the next event on 5th December! Watch my video invitation here: #Brexit #BankingUnion #EuropeanCommission #fitnesscheck
Graham Bishop #FBPE retweeted
<a href=FT Brussels" src="" /> FT Brussels
How a pan-EU insolvency regime could advance banking union
Graham Bishop #FBPE retweeted
New Europe New Europe
Commission launches infringement proceedings against UK
Graham Bishop #FBPE retweeted
POLITICO Poll of Polls POLITICO Poll of Polls
??New #pollofpolls alert for the UK: Conservative Party reaches the highest value in our POLITICO Poll of Polls since June 2018. Cons (ECR): 41% Lab (S&D): 29% LibDems (RE): 14% Brexit Party (NI): 5% ... More on #GE2019 #GeneralElection
Graham Bishop #FBPE retweeted
Financial Times Financial Times
EU set to offer derivatives industry extra year to prepare for Brexit
Graham Bishop #FBPE retweeted
City A.M. City A.M.
EU to extend temporary access to UK clearing houses beyond March

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