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05 May 2016

Brexit 'Weekly'


Securitisation, Brexit, House of Lords report, Bank of England, Capital Markets Union, SEMs, Banking Union, deposit insurance and more.

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Graham's Articles, Comments & Speeches
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  Articles from 28 April 2016 - 05 May 2016

  Grahams Articles, Comments & Speeches
 
 
Securitisation: the next low-hanging fruit of CMU?
CMU is designed to be a major building block in a genuinely single market. Yet the proposal to leave many key roles in the hands of national regulators may finish up fragmenting the market along national lines. Surely this cries out for regulation to be at the European level.  View Article
Britain’s Future in Europe: The known Plan A to remain, or the unknown Plan B to leave
Graham Bishop reviews CEPS's book and says it is a "piercing analysis" which "shows with remarkable clarity some of the profound issues that the Leavers have not addressed."  View Article
 
  Political
 
 
House of Lords: EU withdrawal would be complex and daunting, Committee finds
The EU Committee publishes a report stating that if the UK votes to leave the EU, negotiating withdrawal would be a "complex and daunting task".  View Article
Reuters: EU would divorce UK before any new relationship
The European Union would insist on completing a swift divorce with Britain before starting to forge any new relationship if UK voters decide in June to leave the 28-member bloc, EU sources told Reuters.  View Article
Alistair Darling: leaving EU could put £250bn of UK export trade at risk
Leaving the EU could put £250bn of British trade at risk, former chancellor of the exchequer Alistair Darling has claimed, saying negotiating new free-trade deals with key export markets could take an average of six years.  View Article
Peter Mandelson: Why is the Brexit camp so obsessed with immigration? Because that’s all they have
Former Commissioner for Trade writes in The Guardian that the change in strategy of Leave's campaign against immigration has been motivated by the loss of economic credibility thanks to Obama, the HM Treasury and the OECD warnings of the impacts of a Brexit for UK's economy.  View Article
David Cameron and Brendan Barber: On Europe even we can agree: for British workers it’s better in
The British PM and former trades union leader write "We oppose each other on many things, but we both know the poorest in our country would be badly hit by a Brexit."  View Article
Financial Times: Bank of England governor says Brexit risks higher prices and lower growth
Mark Carney set out in a letter to MPs the likely consequences of a sharp fall in sterling after leaving the EU. The only scenario he describes as plausible leads “to a lower path for growth and a higher path for inflation”.  View Article
CTEI: Brexit - Impacts on UK and EU Trade
The Centre for Trade and Economic Integration examines five models for the future trading relationship between the UK and EU if Brexit occurred: Norway, Switzerland, Turkey, Canada, and Australia.  View Article
CER: The seven blunders: Why Brexit would be harder than Brexiteers think
If Britain decides to leave the EU it will have to invoke article 50 of the Treaty on European Union. That will set in motion a complicated procedure that puts the departing member-state at a disadvantage.  View Article
EurActiv: Brexit a threat to London’s FinTech dominance, industry says
82% of British financial technology companies want the United Kingdom to stay in the European Union, according to the Innovate Finance, the association of FinTech companies.  View Article
City AM: Brexit concerns increasingly weighing on the minds of business owners
Some 81 per cent of respondents - SME owners - in the Smith and Williamson Enterprise Index felt a UK vote to leave the European Union would negatively affect their business, up 13 percentage points from June 2015.  View Article
Financial Times: Brexit blamed for surge in uncertainty
Economic uncertainty has hit its highest level in Britain in at least 19 years in the lead-up to the EU referendum, according to an influential index compiled by Stanford University.  View Article
The Guardian: Brexit fears putting overseas firms off UK commercial property, says report
The Royal Institution of Chartered Surveyors analysis finds there has been a steady decline in international demand for UK office, industrial and retail property since the referendum was announced.  View Article
Franz Nauschnigg: Economic consequences of Brexit - Austria and Switzerland as potential counterfactuals
The different integration strategies of Austria and Switzerland, which is sometimes mentioned as a model for the UK, could serve as potential counterfactuals that show the economic consequences of leaving the EU.  View Article
Financial Times: A risible case for Brexit based on dubious data
Erecting unnecessary trade barriers would threaten Britain’s relative prosperity.  View Article
Policy Network: Can there really be a ‘new settlement’ between Britain and Europe?
It is wishful thinking to suggest Britain’s relationship with the EU will go ‘back to normal’, even if there is a vote against Brexit - argues Andrew Duff.  View Article
City AM: Brexit would mean higher inflation and more quantitative easing
The Bank of England may have to extend its bond-buying quantitative easing programme if the UK votes to leave the European Union, an asset management firm has said.  View Article
PIIE: Brexit Scenarios for June 24
The author looks into the two possible scenarios for the day after UK's referendum on EU membership.  View Article
Paul Goldschmidt: Belgium is giving a bad example!
A decision by the regional Walloon Parliament and a proposal by the Belgian political party CDH, concerning the free trade agreements negotiated by the Commission, are illustrations of the flaws in the European institutional architecture and the suicidal path being followed by its Members.  View Article
 
  Financial
 
 
Capital Markets Union: Commission supports crowdfunding as alternative source of finance for Europe's start-ups
The European Commission published its report on the EU crowdfunding sector, part of the Capital Markets Union Action Plan.  View Article
VoxEU: Completing the Eurozone banking union - What must be done
To resolve the problems of current proposals, authors argue that legislators should stop discussing debt restructuring and instead enhance the borrowing capacity of the European Stability Mechanism.  View Article
Reuters: EU states' funds cover 1 percent of banks' insured deposits - Commission document
National insurance schemes for bank savers in the EU cover 1 percent of insured deposits, a European Commission document showed, with an average level above the required 0.8 percent but only if pooled in a single EU fund.  View Article
 

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