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Joint statement by the Department for Exiting the European Union and the European Commission
Michel Barnier, the European Commission's Chief Negotiator, and David Davis, Secretary of State for Exiting the European Union, agreed to launch Article 50 negotiations on Monday, 19 June. View Article |
ECB: European CCPs after Brexit
Benoît Cœuré, Member of the Executive Board of the ECB, said that the UK’s decision to leave the EU is prompting a significant rethink of the European approach to the supervision of systemically important global CCPs. View Article |
Reuters: Carney warns EU against splitting euro clearing market
Splitting Europe's market for clearing euro-denominated derivatives would bump up costs for users and do little to improve financial stability, Bank of England Governor Mark Carney said. View Article |
Financial Times: The City should not overpay for a euro-clearing deal
Brussels chose not to use Brexit as a pretext to make a land grab for London’s €1tn a day business of clearing euro-denominated securities. View Article |
ECB's Nouy statement at the Economic and Monetary Affairs Committee hearing
Danièle Nouy, Chair of the Supervisory Board of the ECB, addressed the supervisory implications of Brexit, NPLs, as well as some crucial issues in the risk reduction package which is currently under discussion in the Council and in the Parliament. View Article |
Bloomberg: UK welcome to return to EU, Verhofstadt tells Welt am Sonntag
Britain would find the European Union had changed should the nation seek to return to the bloc, Guy Verhofstadt, a Brexit negotiator for the EU, said in an interview with Welt am Sonntag before formal exit talks begin. View Article |
Financial Times: Chancellor seeks interim associate customs union
Philip Hammond, chancellor, has warned that Britain should not dismantle existing customs relations with Europe until the UK has sealed a free-trade agreement with the EU, a process that could last several years after Brexit. View Article |
Sky News: No deal Brexit unacceptable, 30 Tory MPs tell Number 10
At least 30 Conservative MPs have indicated to their own Government that they will not accept leaving the European Union without an agreed deal. View Article |
Open Europe: What does the Queen’s Speech mean for Brexit?
Open Europe’s Stephen Booth explains the various Brexit components of the Queen’s Speech. View Article |
Financial Times: Brexit number crunch: the final bill the EU could accept
A fraught €100bn reckoning has begun as Brexit negotiators clash for the first time on Britain’s exit bill. In Brussels, the spreadsheets are primed. View Article |
Bruegel: Brexit and the future of the Irish border
The UK's confirmation that it will leave the EU's single market and customs union implies that customs checks with Northern Ireland will be needed. However, there is little desire for hard controls from any of the parties involved. This is especially true for PM May's potential partner, the DUP. View Article |
Andrew Duff: What now? Options for Brexit - And a cry for help
In this paper, Andrew Duff reviews the intended and unintended consequences of the results of UK’s general election. View Article |
Financial Times: New EU laws make UK’s complex Brexit ever more difficult
A further 1,260 rules might be applicable by the point of departure in March 2019, highlighting the scale and complexity of the task facing the government when it begins the process of deciding which European legislation to keep or scrap. View Article |
Financial Times: Bankers say election result will not affect Brexit job moves
The biggest international banks in London have played down the chances that outcome of last week’s UK election could allow them to keep more bankers in the City after Brexit, saying they continue to plan for a “hard” split between the UK and the EU despite waning political support for that option. View Article |
Financial Times: Brexit forces some US banks to consider shifting funds out of UK
Some of the biggest US financial groups including Morgan Stanley, Bank of America and Citigroup, are examining whether to move transactions totalling hundreds of billions of dollars out of London to rival hubs because of Brexit. View Article |
Bloomberg: Goldman to double Frankfurt staff on Brexit, Europe head says
Goldman Sachs is shifting personnel away from London as formal negotiations on the UK’s exit from the European Union begin, according to the bank’s regional head, Richard Gnodde. View Article |
CBI: Pace of growth shifts down a gear
The UK is expected to see steady but subdued economic growth over the next couple of years, according to the latest CBI economic forecast. View Article |
NIESR: Businesses sound the alarm over immigration as Brexit negotiations begin
New NIESR research with the Chartered Institute of Personnel and Development (CIPD) highlights need for flexible, affordable and straightforward immigration system to prevent skill and labour shortages damaging UK economy. View Article |
YouGov: Majority favour pushing on with Brexit – but many are tempted by a softer path
More than a third of British people think the result of the election makes a good Brexit deal less likely. View Article |
UK in a Changing Europe: EU referendum: one year on
Brexit gives rise to new political identities – new report, one year on from EU referendum, finds. View Article |
The Guardian: Macron pledges pragmatism and cooperation with post-Brexit Britain
In his first interview since he was elected as French president last month, Macron told the Guardian and seven other European papers: “Pragmatism will determine our new relationship” with Britain. View Article |
Chatham House: The future of Europe: Comparing public and elite attitudes
The report is based on a major survey across 10 EU countries and shows lack of consensus among the elite over the future of EU integration. Brexit ranks 12th out of 15 in a list of threats to the EU, although two-thirds of Europeans want the bloc to take a hard line on Britain. View Article |
Pew Research Center: Post-Brexit, Europeans more favorable toward EU
But many back empowering national governments on migration and trade, and they want their own vote on EU membership. View Article |
PIIE: Forget about Brexit, focus on the euro area future
Brexit has become a sideshow. The real economic news in Europe is being made in France and Germany, write Jacob Funk Kirkegaard and Adam S. Posen. View Article |