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House of Lords: EU Committee Chairman comments on EU referendum result
The Chairman of the House of Lords EU Committee, Lord Boswell of Aynho, has commented on the result of the 23 June referendum on UK membership of the EU. View Article |
House of Commons: EU referendum result—Chair's comment
Foreign Affairs Committee Chair issues statement following the result of the EU Referendum on 23 June 2016. View Article |
Joint statement by Schulz, Tusk, Rutte and Juncker on UK referendum outcome
The Parliament President, the Council President and Dutch PM agreed a joint statement in which they regretted but respected the UK's people decision and ensured the strong union of the EU. They also urged the British government to start the proceedings for separation "as soon as possible." View Article |
ECB is closely monitoring financial markets
Following the outcome of the UK referendum, the European Central Bank (ECB) is closely monitoring financial markets and is in close contact with other central banks. View Article |
Statement from the Governor of the Bank of England following the EU referendum result
The BoE released its statement on the outcome of the UK's referendum over EU membership. View Article |
Statement by Council President Donald Tusk on the outcome of the referendum in the UK
Tusk assured that the EU institutions are prepared also for "this negative scenario": there will be "no legal vacuum" and EU law will continue to apply in the UK until it formally separates from the European Union. The Council President called for unity of the 27 remaining member states. View Article |
European Commission Statement - Lord Hill
Commissioner Jonathan Hill, responsible for Financial Stability, Financial Services and the Capital Markets Union, has resigned following the outcome of the British' EU referendum. View Article |
Chris Grayling: We will make an orderly exit to ensure the City’s future
This is a process of divorce where things are best approached calmly, writes the Leader of the House of Commons on the Financial Times. View Article |
Remarks by President Donald Tusk after the informal meeting of 27 EU heads of state or government
The 27 EU leaders discussed the consequences of the British referendum for Europe and started a political reflection on the future of EU. View Article |
Remarks by President Donald Tusk after the European Council meeting
Tusk reported that European leaders discussed the outcome of the UK referendum and took important decisions on the single market, the digital market, the capital markets union, on stemming irregular migration and on closer cooperation with NATO. View Article |
MEPs call for swift Brexit to end uncertainty and for deep EU reform
The UK must respect the wish of a majority of its citizens, entirely, fully and as soon as possible, by officially withdrawing from the EU before any new relationship arrangements can be made, says the European Parliament in a resolution voted after an extraordinary plenary debate. View Article |
Martin Schulz: Prolonged uncertainty concerning Brexit would be in no-one’s interest
The choice made by the British people in the EU referendum needs to be implemented "as soon as possible” with Parliament’s full involvement, Parliament president Schulz said at the EU summit. View Article |
Moody's: Negative outlook for UK Aa1 sovereign rating; EU’s Aaa stable rating affirmed
The majority referendum vote in favour of the UK leaving the European Union is credit negative for the UK because it triggers a prolonged period of uncertainty while the UK negotiates its withdrawal from the EU as well as a new trade agreement. View Article |
Mark Boleat: Brexit was a blow but the City will still be the world’s financial hub
A ‘London visa’ for foreign workers and ‘passporting’ for financial trading with the EU will help keep us on top, writes policy and resources chairman at the City of London Corporation. View Article |
Financial Times: Passporting question looms large for banks in the UK
Financial groups explore whether there are other ways to preserve EU access. View Article |
LSE Commission on the Future of Britain in Europe: Financial regulation and the protection of Eurozone outs
The topic of this hearing was the EU’s regulation of financial services and the relationship between outsiders and insiders of the monetary union. Graham Bishop took part in the discussions. View Article |
Financial Times: The Norway option is the best available for the UK
European Economic Area membership is the least economically damaging course for the UK to take, writes Wolfgang Münchau. View Article |
Reuters: ECB happy to stay put after Brexit vote as markets regain poise: sources
The European Central Bank is in no rush to ease its monetary policy in response Britain's vote to leave the European Union, taking comfort in a calmer-than-feared market reaction. View Article |
Financial Times: Banks press regulators for Brexit clarity
The world’s biggest banks are pushing regulators and politicians for answers so they can plan for the future of their London operations after the UK’s vote to leave the EU. View Article |
BIS media statement on the outcome of the EU referendum in the United Kingdom
The BIS stated that there is likely to be a period of uncertainty and adjustment, but with good cooperation at a global level, members are confident that uncertainty can be contained and that adjustments proceed as smoothly as possible. View Article |
IFAC reaction to the outcome of the UK's EU referendum
Uncertainty abounds; IFAC recognizes challenges ahead, renews calls for global cooperation to support strong, sustainable global economy. View Article |
EFAMA Statement on result of UK referendum on EU membership
EFAMA intends to spend time consulting with its members across Europe to gather feedback and reactions, and to determine which next steps will be needed in due course. View Article |
AFME comments on the outcome of the EU Referendum
The Association for Financial Markets in Europe provided its comments on the outcome of the EU Referendum and impact on Europe’s financial markets. View Article |
ISDA Statement on UK Referendum Vote for Brexit
The International Swaps and Derivatives Association published its statement on the UK referendum vote to leave the European Union, also known as Brexit. View Article |
Commercial Risk Europe: UK risk and insurance managers have battle ahead following Brexit
UK-based risk and insurance managers will need to deal with material changes to their companies' risk profiles and strategy, market volatility, regulatory and legal challenges, plus potential upheaval in the insurance market following Brexit, according to Marsh. View Article |
Investment Association responds to EU referendum result
Following EU referendum result, the Investment Association released a statement noting the "momentous result of the UK’s referendum on membership of the EU." View Article |
PLSA responds to the UK’s decision to leave the European Union
The Pensions and Lifetime Savings Association (PLSA) has published its initial response to the UK’s decision to leave the European Union. View Article |
EBF: Statement on result of UK referendum on EU membership
Wim Mijs, Chief Executive of the European Banking Federation (EBF) provides statement on result of UK referendum on EU membership. View Article |
AFME comments on Commissioner Hill’s resignation
Mr Lewis, Chief Executive of AFME, said that "More than ever, given the events of the past few days, it is important that momentum towards delivering these initiatives to support economic growth and prosperity across the EU is maintained." View Article |
ALFI: Comment from the Association of the Luxembourg Fund Industry on the outcome of the EU referendum
For asset managers, whilst Brexit is a business issue and depends on each manager’s business model and strategy, ALFI will be working on practical solutions for the industry. View Article |
EUROPP: Why the UK must trigger Article 50 immediately
The author argues that this process should not be delayed any further given the uncertainty which is damaging the UK economy. The country is now effectively marginalised from EU decision-making and has little to gain from taking longer than need be to negotiate its exit. View Article |
Financial Times: Britain must not hold other EU states to ransom
The referendum leaves crucial issues unresolved, writes MEP Sylvie Goulard . View Article |
Bruegel: The UK / EU Separation: How Fast Does It Happen?
Up until the British rebuff on 23 June 2016, the European Union had always been in expansion mode, also known in EU parlance as enlargement. The UK vote to leave the EU marks the first-ever case of this process being reversed. View Article |
Bruegel: Losing “EU passport” would damage City of London
If the UK cannot secure a “Norway” deal and stay within the internal market, the UK will lose the passporting rights which make London attractive as a financial centre. The macroeconomic fallout from Brexit has also damaged the performance of banks and insurers. View Article |
VoxEU: On the financial market consequences of Brexit
The most likely outcome of Brexit is a fall in the quality of financial regulations, more inefficiency, more protectionism, and less protection. Systemic risk could increase, with a systemic vicious feedback loop a possibility. View Article |
Financial Times: Brexit will reconfigure the UK economy
The view that, beyond a lengthy period of transition, the UK will be poorer than it would otherwise have been is overwhelmingly probable. The UK did well inside the EU. It is unlikely to do as well outside it, writes Martin Wolf. View Article |
Andreas Dombret: Opt-in or opt-out? The future of the European Union in light of the UK referendum
Deutsche Bundesbank's Dombret spoke about the direct challenges bankers will face in the event of a Brexit and the long-term outlook for the EU. View Article |
CEPS: Estrangement Day: The implications of Brexit for the EU
The heads of state or government would be well advised to enter a period of reflection to forge political consensus around the aims and contours of the yet unscheduled future EU treaty reform. Any next move should be designed to create a greater sense of ownership of EU citizens in 'their' Union. View Article |
Investment & Pensions Europe: Jeremy Woolfe: The Brexit 'Schock' in Brussels
The fundamental reaction to the referendum result in Brussels appears to be one of shock. It was more or less completely unexpected. Discussion on the subject, at the previous day’s PensionsEurope annual gathering in Brussels, had been universally optimistic the Remain side would prevail. View Article |
Philip Stephens: Brexit: a vote that changes everything
A vote against the EU could also turn out to become a vote against the United Kingdom. View Article |
Philippe de Schoutheete: Brexit: What to do and where to go now?
Like most tragedies, Brexit is the result of stupid mistakes, often self-inflicted. But the referendum question was put in clear and simple terms, it was actively debated and the democratic answer is clear. Any attempt to reverse it would change the situation from bad to worse. View Article |
Paul N. Goldschmidt: Waking up with a serious hangover!
The EU expert reviews some questions relating to the withdrawal process of the UK from the European Union, which will be tested for the first time. View Article |
Bruegel: Six lessons about “real” people, Brexit, and the EU
The result of the UK referendum on 23 June has been portrayed as a victory for "real people". But what consequences will the result have, and how should the UK and EU now react?, writes Guntram Wolff. View Article |
The National Interest: Will Brexit Really Upset the Global Economy?
In the wake of Brexit, there is a certain sense that the world is falling apart. The author assesses the global impact of the UK leaving the EU. View Article |
Commercial Risk Europe: No need for London and UK insurers to panic over Brexit
The UK insurance sector and many international firms that use London as their European base will likely be less affected by the historic Brexit vote than other financial sectors. A mass exodus of firms and premiums from London to continental Europe is not expected overnight. View Article |
Commercial Risk Europe: Risk managers urged to plug Brexit mitigation gap
AIRMIC is concerned that many UK companies have not made contingency plans for Brexit and said the issue must now become a priority. It has laid out key steps to help risk managers and their firms tackle the UK's withdrawal from the European Union. View Article |
ACCA, FRC response to the outcome of the EU Referendum result
Following the news that the UK has voted to leave the EU, ACCA chief executive, Helen Brand OBE has reassured ACCA members that despite the uncertainty, it is business as usual for the global body. The FRC will continue to play its part in representing the interests of the UK internationally. View Article |
Lord Ashcroft Polls: How the United Kingdom voted on Thursday… and why
On referendum day over the UK's EU membership, Lord Ashcroft surveyed 12,369 people after they had voted to help explain the result – who voted for which outcome, and what lay behind their decision. View Article |