Follow Us

Follow us on Twitter  Follow us on LinkedIn

25 October 2018

Brexit Weekly

Statements on October EU Council, Macron&Merkel criticism, Brexit transition could last for years, 700,000 march to demand ‘people’s vote’, UK border not prepared for EU exit, cliff-edge Brexit, EU derivatives market at €660 trillion and more.

  Jump directly to
Brexit & UK   About this email

  Articles from 18 October 2018 - 25 October 2018

  Brexit & UK
UK Prime Minister Theresa May Statement on October EU Council
Theresa May, the Prime Minister, made a statement in the House of Commons on the October EU Council.  View Article
Remarks by President Donald Tusk after the European Council meetings on 17 and 18 October 2018
The head of the European Council said that he "stands ready to convene a European Council on Brexit, if and when the EU negotiator reports that decisive progress has been made", but that, "as for now, not enough progress has been made."  View Article
EurActiv: Macron criticises British inability to reach Brexit agreement
The failure to reach a Brexit agreement is due to “the lack of political capacity to reach a presentable agreement” in the United Kingdom, according to French president Emmanuel Macron.  View Article
Financial Times: Merkel warns EU and UK against rigid approach to Brexit talks
Angela Merkel has called for more flexibility from both the EU and the UK to unblock Brexit negotiations, warning that too rigid an approach could risk leaving Northern Ireland without any other option than a hard border.   View Article
The Times: Revolt grows over Theresa May’s handling of Brexit talks
Theresa May is facing the most perilous week of her premiership after infuriating all sections of her party by making further concessions to Brussels.  View Article
RTE: EU may offer British PM a UK-wide customs union
The European Union will offer British Prime Theresa May a UK-wide customs union as a way around the Irish backstop issue, but it will have to be negotiated beyond the Withdrawal Agreement as a separate treaty, RTÉ News understands.  View Article
The Times: Brexit transition could last for years, cabinet warned
Theresa May’s Brexit plan could leave Britain in a “long-running” multi-year transition period despite her promise that it would last only a few months, according to leaked cabinet papers seen by The Times.  View Article
The Guardian: Almost 700,000 march to demand ‘people’s vote’ on Brexit deal
The centre of London ground to a halt as an estimated 700,000 people from all over the UK marched peacefully on parliament to demand a second referendum on Brexit. It was the biggest outpouring of public opposition to government policy since the anti-Iraq war protest in 2003.  View Article
The Guardian: People's Vote identifies 50 Tory MPs who could be swayed on Brexit
Campaigners for a second Brexit referendum are hoping to harness the energy demonstrated by Saturday’s 700,000-strong march in London to lobby MPs in the run-up to a crucial Commons vote.  View Article
Financial Times: France asks businesses to prepare for ‘no-deal Brexit’
The French government has asked its businesses to gird themselves against a no-deal Brexit, putting out a briefing document aimed at preparing them for a worst-case scenario.  View Article
UK in a Changing Europe: No-deal Brexit: survey reveals 44% of people expect the UK to crash out of EU
A major new survey by the Policy Institute at King’s College London and Ipsos MORI reveals that nearly half (44%) expect the UK to leave the EU in March 2019 without a deal in place. Only three in ten expect a deal to be worked out.  View Article
Institute for Government: 'No deal' will lead to more upheaval than long-term economic projects suggest
Government and independent forecasts of the economic impacts of Brexit focus on the long-term effects and do not provide a guide to the immediate disruption from ‘no deal’, warns a new report by the Institute for Government.  View Article
National Audit Office: The UK border: preparedness for EU exit
The National Audit Office agrees with the UK government's assessment that, if there is no withdrawal agreement, the border will be ‘less than optimal.’ The institution also recognises that it may take some time for a fully functioning border to be put in place.  View Article
The Telegraph: Brexit ‘makes investors wary of UK banks’
Investors have become more pessimistic about the prospects for UK banks, analysts at UBS have warned.  View Article
POLITICO: Commission downplays City’s cliff-edge Brexit worries
The European Commission’s top financial services officials shrugged off UK fears that Brexit could disrupt the continuity of cross-border insurance and derivative contracts and that the bloc’s evolving stance on granting regulatory equivalence decisions is taking a protectionist slant.  View Article
ESMA data analysis values EU derivatives market at €660 trillion with central clearing increasing significantly
The report provides the first comprehensive market-level view of the EU’s derivatives markets, which in 4Q17 amounted to €660tn of gross notional outstanding transactions.  View Article
Financial Times: London Stock Exchange to lift stake in LCH
The London Stock Exchange Group has unveiled plans to buy a further 15.1 per cent of LCH for up to €438m, strengthening its grip on the clearing house that is at the centre of arguments between regulators of the global derivatives market.  View Article
Bloomberg: Brexit is ripping the world's financial plumbing apart
Lionel Laurent writes that banks and exchanges aren't waiting for political uncertainty to abate before they move business.  View Article
City of London Corporation: Global investment: driving UK jobs and growth in financial services
Produced by fDi Intelligence, the report looks at the factors underpinning the UK’s success in attracting investment, and how the benefits in terms of jobs and capital, are spread throughout UK regions and cities, with almost half of jobs linked to inward investment created outside London.  View Article
Chartered IIA: Brexit - ‘starter for 10 or 11’ for internal audit to consider now
Whilst politicians cogitate and the media speculate, the organisations continue to operate and plan for an uncertain future. Brexit cannot be avoided. The Chartered IIA is preparing its research report detailing the Brexit preparations of audit functions.  View Article
Commercial Risk Europe: Guy Verhofstadt allays contract continuity fears post-Brexit
The European Parliament’s Brexit coordinator Guy Verhofstadt has said insurance buyers holding policies when the UK exits the EU need not fear contract continuity problems.  View Article
Audit&Risk: UK businesses "lose out" on European contracts
European businesses are torn over whether the EU should prioritise a trade deal with the UK or US, according to research conducted by consultancy RSM. It found: 23 per cent believe a trade deal with the US should be their priority – although the same percentage are in favour of prioritising the UK.  View Article
Bloomberg: Germany seeks to keep post-Brexit ties to UK markets cop
British and European markets watchdogs may wrap up a comprehensive deal that protects cross-border securities trading after Brexit. But the Germans aren’t betting on it.  View Article
The Independent: Jobs will be lost if Brexit deal not reached by December, business leader warns
Work will be moved out of the UK and jobs will be lost, unless the government finalises a Brexit withdrawal agreement by December, the director general of the CBI has warned.  View Article
Recruitment & Employment Confederation: Employers’ confidence in the economy at its worst for eight months
New data shows that employers’ confidence in the prospects for the UK economy plummeted this month, according to the Recruitment and Employment Confederation’s latest Jobs Outlook report.  View Article
CBI: Manufacturing weakens as Brexit uncertainty bites
Manufacturing new orders fell at the fastest pace in three years in the quarter to October, reflecting falls in both domestic and export orders, according to the latest quarterly CBI Industrial Trends Survey.  View Article
Financial Times: RBS sets aside £2bn to help small businesses deal with Brexit
Royal Bank of Scotland has set aside £2bn in funding to help small businesses deal with Brexit as uncertainty around the terms of the UK’s departure creates concerns about supply chains and financial risks for many businesses.  View Article
POLITICO: Singapore prepared to strike UK trade deal
Prime Minister of Singapore Lee Hsien Loong said his country is ready to strike a trade deal with the UK, which would come into effect at the end of any Brexit transition period.  View Article
UK in a Changing Europe: A nation of remainers and leavers? how Brexit has forged a new sense of identity
It has now become commonplace to say that attitudes towards Brexit are polarised. A third reason for this is that many voters are very strongly committed to their side of the argument. Indeed, so strong is this commitment that these voters now think of themselves as a ‘Remainer’ or ‘Leaver’.  View Article

  Graham's tweets

© Graham Bishop

< Next Previous >
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information

Add new comment