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26 October 2017

Brexit Weekly

European Council on Brexit negotiations, Brexit transition deal and no-deal and more.

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Brexit & UK   About this email

  Articles from 19 October 2017 - 26 October 2017

  Brexit & UK
European Council (Art. 50) conclusions
The European Council (Art. 50) on 20 October 2017 adopted conclusions on the state of the Brexit negotiations.  View Article
Report by President Donald Tusk to the European Parliament on October European Council meetings and presentation of the Leaders' Agenda
Tusk focused on migration, EMU and Brexit, about which he said that leaders "have shown also during last European Council that no-one can divide the 27 in these negotiations."  View Article
Financial Times: EU leaders demand May makes ‘firm and concrete’ Brexit divorce offer
UK prime minister Theresa May has been told by EU leaders to make a “firm and concrete commitment” to increase her initial €20bn Brexit divorce offer, with French president Emmanuel Macron suggesting the final bill should be more than €40bn.  View Article
The Guardian: UK likely to end up with Canadian-style deal, warns Michel Barnier
Post-Brexit trade arrangements with the EU will be very different from now and will take years to agree, says EU chief negotiator.  View Article
Financial Times: David Davis says UK expects to strike post-Brexit transition deal by early 2018
David Davis told MPs on Wednesday that he expects Britain and the EU to agree early next year on terms of the transition period that will follow Britain’s formal separation from the bloc, offering a more optimistic view than his EU counterpart.  View Article
The Times: David Davis draws up plans for no deal on Brexit talks
David Davis is to present an upbeat assessment of a “no-deal” Brexit to the cabinet in a big shift in Britain’s negotiating strategy.  View Article
The Irish Times: The no-deal scenarios
The Irish Times collects a number of worst-case scenarios from different sectors and organisations, think tanks, banks and insurance companies regarding a no-deal Brexit outcome.   View Article
The Guardian: No Brexit transition period without final EU trade deal, Theresa May tells MPs
Theresa May has signalled there will be no transitional deal to prevent a “cliff-edge” Brexit unless the UK settles its final trading relationship with the EU next year, prompting warnings that businesses will start leaving the country before then.  View Article
EurActiv: German bank regulator urges EU to be ready for hard Brexit
European Union regulators need temporary fixes in place to prevent market distortions in case banks based in Britain face a Brexit without a deal, Germany’s financial watchdog said.  View Article
City AM: Luxembourg finance minister warns EU against strict Brexit approach letting the City of London 'drift away'
Luxembourg's finance minister has warned EU leaders that taking a hard line approach towards a Brexit deal risks letting the City “drift away into the Atlantic”.  View Article
The Guardian: Transitional Brexit deal must be agreed this year, City warns government
The City of London has warned that businesses will start activating Brexit contingency plans unless there is a transitional deal by the end of 2017, as Philip Hammond tried to calm fears that a final agreement may not be reached for another year.  View Article
The Guardian: UK business chiefs unite to demand urgent Brexit transition deal
Five major lobby groups have written a letter to David Davis in the latest sign of employers’ growing alarm about the state of talks with the EU.  View Article
The Guardian: Brexit fears are holding back manufacturing investment, study finds
The amount invested by UK manufacturers in new plant and machinery has slowed to 6.5% of turnover, from 7.5% last year, according to a survey by EEF, the industry trade body, as companies press the pause button until there is further clarity on a Brexit deal.  View Article
VoxEU: Short-term impact of Brexit on the UK’s export of goods
If the UK fails to secure a new trade deal with the EU and must face tariffs with no preferences, total UK's exports to the EU would drop by at most 2%, according to researchers at VoxEU. The impact is small because the EU's import demand for UK exports is fairly inelastic.  View Article
Financial Times: Asset management task force discusses post-Brexit policy
The UK government has met top asset management executives to discuss post-Brexit policy as concerns mount over stalled negotiations with the EU and moves by the country’s £7tn investment industry to strengthen operations on the continent.  View Article
Financial Times: Asset managers fear UK will suffer Brexit jobs exodus
Thousands of job losses are expected across the UK’s £7tn asset management industry as a result of Brexit, according to two surveys that will add to concerns about the City of London’s future position as a global financial centre.   View Article
Financial Times: Liam Fox seeks to narrow focus for post-Brexit US trade deal
Mr Fox’s allies say that a deal on services with the US is the big prize, acknowledging that an ambitious agreement in other areas could lead to bitter disputes with Washington over food imports.  View Article
The Times: Hard Brexit could wipe nearly 10% off Ireland's output
A hard Brexit could wipe almost 10 per cent off Ireland’s GDP and have a much more severe economic effect than previously thought, a report has warned.  View Article
Project Syndicate: How money could unblock the Brexit talks
With talks on the UK's withdrawal from the EU stalled, negotiators should focus immediately on the British budget contributions that will be required to make an orderly transition possible.  View Article
EUROPP: Survey evidence: Europeans support the EU’s hard line in the Brexit negotiations
Drawing on recent survey evidence, Stefanie Walter reflects on the Brexit process through EU-27 eyes, and concludes that by and large Europeans support the EU’s negotiating strategy.  View Article
The Guardian: UK emigrants permitted to stay in Spain in event of no-deal Brexit
British people living in Spain will be allowed to stay there even if the UK leaves the European Union without striking a withdrawal deal, the Spanish foreign minister has said.  View Article
Verfassungsblog: The Irony of Brexit for immigration control
While Brexit can facilitate legal control over the entry and stay of EU citizens, it might paradoxically render control of immigration by non-Europeans more difficult to some extent.  View Article

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