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25 February 2016

Brexit 'Weekly'

European Council/UK “Deal”, Brexit, CMU, Banking Union, the euro, European Semester, fiscal union, FTT and more.

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Graham's Articles, Comments & Speeches


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  Articles from 18 February 2016 - 25 February 2016

  Grahams Articles, Comments & Speeches
The European Council/UK “Deal”
Graham Bishop analyses the results of the renegotiation of the UK's EU membership, presented by PM David Cameron this morning, and concludes that "there is now no serious impediment to the people of the United Kingdom voting decisively to stay in the European Union."  View Article
Graham Bishop speech at the London School of Economics
Graham Bishop spoke on the implications of a Brexit for the UK during a series of seminars at the LSE.  View Article
European Council: A new settlement for the UK in the EU
Following its first session in which European Union government leaders agreed to accelerate action on the refugee crisis, the European Council agreed a new settlement for the United Kingdom in the European Union.  View Article
UK Parliament: David Cameron statement on the European Council
PM Cameron spoke at the House of Commons supporting the deal achieved at the latest European Council and a vote for remaining in the EU. The referendum will be held on 23 June and there won't be another chance for renegotiation if British people vote leave.  View Article
TheCityUK responds to the EU reform deal presented by the Prime Minister
The reform deal recently announced by the PM lays solid foundations on which to build a stronger EU that will protect and strengthen the Single Market, help to make the EU more competitive, more outward looking and ultimately work better for all its 28 Member States, said TheCityUK's Cummings.  View Article
Financial Times: David Cameron finally makes the case against Brexit
"Safety in numbers in a dangerous world", the principle invoked by PM David Cameron as key for backing UK's EU membership, is a slogan to champion - argues the FT.  View Article
Financial Times: Brexit is the last thing City banks need
UK leaving the EU predicted to wipe 20% off value of institutions.  View Article
Bloomberg: Goldman Sachs, HSBC back Cameron push to keep U.K. in EU
Chief executive officers from HSBC Holdings Plc to Goldman Sachs International were among the business leaders to endorse Prime Minister David Cameron’s campaign to keep Britain in the European Union.  View Article
City AM: London firms say the Single Market is the capital's biggest economic asset
The Confederation of British Industry and CBRE polled 200 of the capital's business leaders, finding that three-quarters of businesses have customers – and almost two-thirds of firms have suppliers – in the European Union.  View Article
The Telegraph: Stay in the EU, say British businesses
Two polls – from the Institute of Directors (IoD) and manufacturers’ trade body EEF – each found that six out of 10 of their members support Britain remaining in the European Union.  View Article
BBC: Pound hits lowest level against dollar since 2009
The pound hit its lowest level against the dollar in almost seven years on concerns about a possible UK exit from the European Union.  View Article
Financial Times: Brexit - uncertainty mounts for foreign bond buyers
Foreign bond buyers have started to raise concerns about the effect of Brexit on UK companies and banks, in the latest sign of growing uncertainty over the impact of the British referendum on EU membership.  View Article
Moody's warns Brexit would risk UK's credit rating
In Moody's view the economic costs of a decision to leave the EU would outweigh the economic benefits. The credit rating agency would "consider assigning a negative outlook" to Uk's sovereign's rating following a vote to exit.  View Article
The Independent: Britain is deeply Eurosceptic but will still decide to stay, says poll
National Centre for Social Research found that two-thirds of the electorate were unhappy with Britain’s current membership terms.  View Article
The Telegraph/ Boris Johnson: There is only one way to get the change we want – vote to leave the EU
David Cameron has done his very best, but a vote to Remain will be taken in Brussels as a green light for the further erosion of democracy, writes London mayor.  View Article
Paul Goldschmidt: It would be disastrous to wait passively for the outcome of the British Referendum!
Clarifications on immigration and EMU integration are necessary before holding UK's EU referendum because reintroducing internal border controls would lead to the dismantling of both the EU and EMU, making further negotiations with the UK a total waste of time.  View Article
Commercial Risk Europe: Brexit would hurt UK insurers and European rivals in London
Commentators warned that a UK vote to leave the EU will likely result in huge uncertainty and a weaker position for its insurers and European rivals operating in London. This could have a severe knock-on effect for insurance buyers.  View Article
City AM: Brexit will cause carnage for UK fund managers - leaving them without access to the UCITS passport regulation
If Britain votes to leave the EU, many fund groups won’t be able to use the Ucits passport and would be left stranded, having to withdraw their investment funds from marketing on the continent.  View Article
Investment Europe: Loss of passporting rights could halve UK exports
The report, produced by Capital Economics, estimates that “without passporting rights, it is conceivable that exports of financial services to the European Union could fall by half, or about £10bn (€12.8bn).”  View Article
BBC: How does EU deal affect UK's position outside the eurozone
Within the deal struck by the prime minister in Brussels are some changes aimed specifically at the City of London and business.  View Article
PIIE: The Odds Remain against a Brexit
Disintegration of the United Kingdom itself after an exit from the European Union, mounting international pressure, financial markets' fears and control of migration could sway vote on EU referendum.  View Article
CEPS: The Final Brexit Question - The known Plan A to remain or the unknown Plan B to leave
The terms for the UK to remain in the EU are now known, amounting to the status quo as amended by the agreement reached at the European Council. The terms for leaving, however, are completely unknown, beyond vague talk about liberating the UK from regulation by Brussels.  View Article
CEPS: The EU deal to avoid Brexit - Take it or leave
The European Council/UK deal marks a watershed acknowledgement that EU integration is not a one-directional process of ‘ever closer union’.   View Article
Carnegie Europe: Britain Propels a Two-Speed Europe
The path toward ever-closer union has been decided. If the EU wants to move toward what it was intended to be—an integrated Europe—it now has only one way to achieve that: a two-speed Europe.  View Article
Financial Times: Concessions to Britain will create a two-tier Europe
If you divide a union you end up with disunion. You cannot have it both ways, writes Wolfgang Münchau.  View Article
Open Europe: What did the UK achieve in its EU renegotiation?
Open Europe lays out its take on the renegotiation and sets this in the broader context of the UK’s position in the EU and the upcoming referendum.  View Article
The Guardian: Cameron’s deal is the wrong one - but Britain must stay in Europe
Labour will campaign for Britain to stay in Europe in the referendum that the prime minister has called for June, regardless of Cameron’s overblown tinkering, says Labour leader Jeremy Corbyn.  View Article
City AM: Britain should vote to leave the EU to take back control of our laws
Lawyers for Britain, a group led by Martin Howe QC, is formed by lawyers who believe the UK needs a fundamental change in its relationship with the EU. Their members said that the changes set out in last EU Council’s deal are merely cosmetic, and therefore recommend a “leave” vote.  View Article
AFME: EU insolvency law reform could boost growth and jobs across Europe
AFME published new research showing that European insolvency law reform could boost GDP output and create jobs across Europe. Insolvency reform is a key plank of the European Commission’s action plan on Capital Markets Union.  View Article
Dijsselbloem pledges to strengthen EU Banking Union and tackle tax-avoidance
Eurogroup President Jeroen Dijsselbloem will strive to strengthen the EU Banking Union, despite recent calls to loosen regulation in response to bank share volatility in in global markets, he told the Economic and Monetary Affairs Committee  View Article
OMFIF: Self-interest and the euro
European deposit insurance is needed for banking equality among the EU member states.  View Article
ECON: Report on the European Semester for economic policy coordination: Annual Growth Survey 2016
This report represents the Parliament’s contribution to the definition of economic policy priorities for the 2016 European Semester process of policy coordination, responding to the Commission’s Annual Growth Survey, and including a draft recommendation for the economic policy of the euro area.  View Article
Bruegel: Which fiscal union for the euro area?
The authors make three recommendations that would lead national fiscal policies to be more stabilising with respect to the economic cycle, while achieving long-term sustainability.   View Article
IPE: Pension industry, EU governments warn over 'inferior' FTT proposals
Pension funds, industry bodies and EU governments rallied against the FTT, which is being pursued by a minority of 10 EU member states under the enhanced cooperation procedure.  View Article

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