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03 March 2016

Brexit 'Weekly'


Brexit, Spanish political impasse, G20, FSB, Fintech, Single Market and more.

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  Articles from 25 February 2016 - 03 March 2016

  Grahams Articles, Comments & Speeches
 
 
The Eurozone: IN and OUT relations
This paper seeks to consider the problems posed for the EU by having most of its members using the euro while others remain outside it. How can these problems be solved – or merely mitigated? Will the solutions help or hinder PM Cameron’s renegotiation of the UK’s relationship with Europe?  View Article
Spanish political deadlock hits turning point with PSOE trying to win confidence vote
The Political impasse in Spain might be drawing to a close this week, with the Socialist leader becoming Premier after the investiture debate ... or face a re-run of the election on 20 December, 2015.   View Article
 
  Political
 
 
UK Government: The process for withdrawing from the European Union
The UK Government published its assessment of the withdrawal process from the EU in the event of a vote in favour of Brexit in the referendum, saying the process would lead to “up to a decade or more of uncertainty”.  View Article
UK Government: Alternatives to membership - possible models for the UK outside the EU
The UK Government paper looks at potential models for the UK’s relationship with the European Union, if the UK were to vote to leave the EU.  View Article
Greater London Authority: London - the global powerhouse
The report affirms that London is the UK’s global city, and suggests that it can also lay claim to being the world’s leading international city.  View Article
Financial Times: Boris Johnson is wrong. Parliament has the ultimate authority
How does a sovereign country make itself more sovereign by declaring itself, well, sovereign? - wonders Philip Stephens.  View Article
BBC: G20 says UK EU exit would be global economy 'shock'
Finance ministers from the world's leading economies have warned of a "shock" to the global economy if the UK leaves the EU.  View Article
IN Facts: UK doesn’t send EU £350m a week or £55m a day to the European Union
Total cost of EU membership not even half of the figures used in the Leave campaign, after accounting benefits received from Brussels and not properly gauging the exact benefits of Single Market for UK economy.  View Article
Federal Trust / Tim Oliver: Why the EU Referendum will not be the end of the story
Whether the British people vote to remain or leave the EU, further referendums on UK-European relations are inevitable.   View Article
The Independent: Brexit voters more likely to turn out in force
Poll finds attitudes have hardened against British EU membership since Cameron’s deal with fellow leaders.  View Article
Financial Times: BlackRock warns of economic dangers of Brexit
BlackRock, the world’s largest asset manager, has warned that Britain’s economy would be hit hard by a vote to leave the EU, with equities, sterling and the London property market all likely to suffer.  View Article
The Guardian: Brexit vote would affect UK's top credit score, says Standard & Poor's
Ratings agency says downgrade would push up UK’s government borrowing costs and hurt its standing in global markets.  View Article
Reuters: UBS warns Sterling would fall to parity vs euro after Brexit vote
Sterling could fall to parity with the euro if Britain votes to leave the European Union in June, analysts from Swiss bank UBS said in a note laying out scenarios for the vote and its aftermath.  View Article
VoxEU: The Brexit question will increase financial market volatility
There is near unanimity in the monthly Centre for Macroeconomics survey that the Brexit question will increase financial volatility and will pose economic costs in the medium term.  View Article
Bloomberg: How `Brexit' puts European institutions at risk of downgrade
The consequences of a “leave” vote in the U.K.’s June 23 referendum on its European Union membership may spread beyond Britain’s shores, according to Societe Generale SA.  View Article
VoxEU: The implications of Brexit for the rest of the EU
Brexit could have serious economic and political consequences for the rest of the EU. The economic and financial frictions could be limited, but political considerations might result in a far more damaging outcome, not just for the UK.  View Article
Financial Times: Europe enters the age of disintegration
There will not necessarily be a formal break-up of the EU, but it will become less effective - writes Wolfgang Münchau.   View Article
 
  Financial
 
 
G20 Finance Communiqué
Finance Ministers and Central Bank Governors said the global recovery continues, but it remains uneven and falls short of the G20 ambition for strong, sustainable and balanced growth. The document warns against "the shock of a potential UK exit from the European Union."  View Article
Financial Times: Financial Stability Board adds fintech to list of worries
Innovations in financial technology have been added to the list of things the Financial Stability Board worries about by Mark Carney, head of the international group of policymakers and regulators G20.  View Article
 
  Economic
 
 
Council conclusions on the Single Market Strategy
The European Council welcomed the Single Market Strategy and its 11 key areas, focusing on SMEs growth and on reducing regulatory and administrative burden on businesses.  View Article
TheCityUK: Demographics, Growth and Financial Services
The report analyses some of the key economic issues associated with long-term demographic change, including the impact of immigration on economic growth and on countries’ fiscal positions; the distribution of debt across different age cohorts; and the challenges associated with an ageing population.  View Article
POLITICO: Commission highlights financial failings
The annual ‘country reports’ urge more decisive reforms to strengthen economic fundamentals.  View Article
ECON: Ending EU citizens' bank secrecy in San Marino
An EU deal with San Marino, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament. Under the deal, the EU and San Marino will automatically exchange information on the bank accounts of each other's residents, starting in 2017.  View Article
 

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