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23 October 2015

Finance on Friday - 23rd October

The three big issues of this week in the EU have been Brexit, Capital Markets Union and completing the Economic and Monetary Union.

Graham Bishop and Nick Crosby of Cambre Associates discuss the three big issues of this week's EU hot news:

  • Brexit: the CBI issued a report stating that the majority of its member organisations want to remain in a reformed European Union, and the BoE's Governor Carney gave a speech in which he presented a report on how the EU membership affects the BoE achieving its main objectives. Also, the 'In' campaign was supported by a commissioned report by CEBR which found out that "staying in Europe could add £58bn a year to the UK economy".
  • CMU: Commissioner Hill spoke about the urgent measures under the CMU now undergoing or just to be applied by the European Commission, such as relaunching the securitisation markets.
  • Completing the EMU: as outlined in the Stage 1 of the EMU Plan, the Commission is taking  further steps such as the introduction of an advisory European Fiscal Board; increasing the international representation of the EU, especially in the IMF; and establishing a European Deposit Insurance Guarantee Scheme with the aim of completing the Banking Union.


© Graham Bishop

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