This week's Finance on Friday chat features four key topics: Brexit, payments, the CMU securitisation proposal and BRRD.
Graham Bishop and Nick Crosby of Cambre Associates talk about this week's main key issues:
Brexit: the UK has finished the technical discussions for enacting any of Cameron's government demands for a reform of the EU. He has committed to presenting the final list in early November. PM Cameron ruled out a second referendum in case the 'Out' option wins.
General Elections: the ultra-conservative Law & Justice party won the elections in Poland, which means - in the economic field - postponing any thoughts of joining the EMU in the next five years. In Spain, the latest polls suggest that current PM Rajoy will not be able to form a government outright in the next General Elections on 20th December; his People's Party may need the new C's (Ciudadanos) party support.
Payments: ECB's Mersch revealed that the main focus is now on a pan-European instant retail payments solution, and in November the ECB will present a plan for instant payments.
Securitisation: the PCS issued a report on the securitisation proposal presented by the European Commission along with the CMU plan, outlining two difficulties that are not being addressed by the EC's plan and giving some solutions.
BRRD: the Commission is taking six Member States to court to get them to transpose the BRRD into domestic law.
© Graham Bishop
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