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08 June 2017

Brexit Weekly


MiFID II/MiFIR, relocation of euro clearing from London, post-election Brexit crisis, RSA, QBE, migration and more.

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  Articles from 01 June 2017 - 08 June 2017

  Brexit & UK
 
 
Looking to the future - Steven Maijoor addresses FIA IDX Conference
Steven Maijoor keynote address focused on preparation for MiFID II/MiFIR, the UK exiting the European Union and the review of the European Supervisory Authorities.  View Article
City A. M.: Forced relocation of euro clearing from London would be "severely detrimental" to EU, global trade body warns
The Futures Industry Association has told the European Commission it holds “grave concerns” over the proposal to force euro clearing activity away from London to the EU.  View Article
Financial Times: UK economic growth to slow in 2018 on ‘hard Brexit’ jitters warns OECD
Britain’s economic performance will slow next year as the prospect of a “hard” Brexit takes its toll on growth and confidence, the Organisation for Economic Cooperation and Development predicted, in a blow to prime minister Theresa May just one day before the general election.  View Article
CEP: Brexit and the UK Economy
Leaving the European Union with no deal in place for future trading arrangements would be the worst-case Brexit scenario for the UK economy, according to a new report from the Centre for Economic Performance (CEP).  View Article
Reuters: Conservatives see poll lead narrow to 1 point - Survation
British Prime Minister Theresa May's lead over the opposition Labour Party ahead of Thursday's national election has narrowed to just 1 percentage point, according to a poll by Survation for ITV television.  View Article
FedTrust: After the election comes the painful Brexit reality
One of the most pressing and important challenges immediately facing the new government is precisely the start on 19th June of the negotiations designed to bring about British withdrawal from the EU.   View Article
UK in a Changing Europe: The manifestos uncovered
The UK in a Changing Europe think tank analysed the political parties' manifestos in the run-up to UK General Election in four critical areas: Brexit, trade, immigration and repatriation of competences.  View Article
Financial Times: EU negotiators steeled for post-election Brexit crisis
EU negotiators are bracing themselves for a “big crisis” over Brexit soon after this week’s UK election, including a possible walkout as early as the summer or autumn.  View Article
City AM: Sovereign investors snubbing post-Brexit Britain in favour of Germany and the US
Sovereign wealth funds and central banks are choosing to invest less in the UK following Brexit, a survey by investment manager Invesco has found, as Germany and the US see a surge in popularity.  View Article
Commercial Risk Europe: Buyers lobby for post-Brexit access to London market
UK insurance and risk management bodies are lobbying to keep insurance markets as open as possible following Brexit, but some experts believe European partners need to put their case to EU negotiators for continued access to the London insurance market.  View Article
Financial Times: Trade realities expose the absurdity of a Brexit ‘no deal’
The UK has imposed a diversion of effort upon its partners at an exceptionally testing time, writes Martin Wolf. Brexiteers imagine the UK can refuse the EU’s terms for an amicable divorce and yet still count upon active and enthusiastic co-operation in ensuring the smooth flow of trade.   View Article
CBI's Rain Newton-Smith: The business side of Brexit
The Chief Economist at the Confederation of British Industry writes that the vote to leave the EU was expected by many produce severe economic volatility. But the economy, so far, has proved resilient. The question is whether it can withstand the actual divorce proceedings.  View Article
Commercial Risk Europe: RSA chooses Luxembourg for new EU base
RSA will open a new office in Luxembourg in direct response to the UK’s decision to leave the EU. It will join a growing number of insurers that have chosen Luxembourg to set up an EU base post-Brexit, with AIG, Hiscox and FM Global already confirming new subsidiaries in the country.  View Article
Financial Times: QBE sets up Brussels base in blow to Dublin
Insurer QBE is to set up an EU base in Brussels, dealing a blow to Dublin’s hopes of becoming a new centre for the industry.   View Article
LSE: UK voters, including Leavers, care more about reducing non-EU than EU migration
Despite the argument that Brexit was about sovereignty and only secondarily about immigration, new data show the importance of reducing immigration levels – especially from outside the EU – to British voters.  View Article
PIIE: The United Kingdom's loss is Europe's gain
EU students and workers look for opportunities at home or in other European economies. This trend increases the long-term growth prospects for Europe, to the detriment of the United Kingdom.  View Article
 

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