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23 May 2019

Brexit Weekly

Theresa May expected to step down, May’s new Brexit deal falls flat, Conservatives and Labour talks collapse, Boris Johnson to bid for Tory leadership, Pro- and anti-Brexit parties neck and neck in EU election and more.

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Brexit & UK   About this email

  Articles from 16 May 2019 - 23 May 2019

  Brexit & UK
Bloomberg: May’s desperate gamble on a new Brexit referendum falls flat
In a hastily arranged speech, the embattled prime minister promised to give members of Parliament a vote on whether to call another referendum to ratify Britain’s divorce from the EU - but she made it conditional on them backing her redrafted deal first.   View Article
POLITICO: Brexit talks between Conservatives and Labour collapse
Talks between the U.K.'s Conservative and Labour parties to find a compromise Brexit deal were called off with no agreement.  View Article
The Guardian: May agrees to set her exit date after Brexit bill vote
Theresa May has agreed to set a timetable for her departure as prime minister in the first week of June, leading MPs to believe she will trigger a leadership contest before the summer.  View Article
The Guardian: Boris Johnson confirms he will bid for Tory leadership
Boris Johnson has publicly thrown his hat into the ring for the Conservative leadership, saying he is determined to see Brexit become a reality.  View Article
The Guardian: Pro- and anti-Brexit parties neck and neck in EU election, says poll
Three in five British voters say politics in Westminster and Brussels is broken, according to a poll that finds pro- and anti-Brexit parties are running neck and neck ahead of the European elections.  View Article
The Guardian: Labour panics as remain voters switch to Liberal Democrats
Polls make Vince Cable’s party the favourite for remainers and put it in first place in London.  View Article
The Guardian: No-deal Brexit would be a betrayal, says Philip Hammond
The expected demise of Theresa May’s Brexit plan has sparked open feuding over what comes next, with the chancellor, Philip Hammond, arguing that proponents of a no-deal Brexit are betraying the referendum result.  View Article
The Independent: Brexit: Revoke Article 50 as no time left for second referendum, says Change UK
Chuka Umunna has called for Article 50 to be revoked, as he claimed there was insufficient time for a second referendum before the Brexit deadline in October.  View Article
Financial Times: EU and UK regulators clash over post-Brexit market supervision
European and British markets regulators clashed on how best to supervise financial markets after Brexit, throwing cold water on UK calls that a bespoke arrangement be designed once the UK leaves the European Union.  View Article
Financial Times: OECD cautions BoE against raising rates amid Brexit uncertainty
The Bank of England should be in no hurry to raise interest rates, given the ongoing risks of a Brexit-induced downturn, the OECD warned.  View Article
The Guardian: Bank of England warns investment will suffer under no-deal Brexit
Businesses would be likely to cancel their investment projects in Britain under a no-deal Brexit, paving the way for weaker economic growth in future, a deputy governor of the Bank of England has warned.  View Article
Financial Times: ‘Site checks’ warning as Ireland and Luxembourg probe local entities
Ireland and Luxembourg, the EU countries that have attracted the biggest influx of Brexit-related fund business, are to probe asset managers’ local entities in a move that reflects the level of scrutiny of the so-called delegation model at the heart of fund management.  View Article
Bloomberg: Brexit has already happened for banks building out EU units
The UK has already left the European Union, at least if you’re a bank moving staff and assets to the bloc to maintain access to clients, since the ECB is holding lenders to their original deadlines.  View Article
Commercial Risk Europe: ‘No bonfire’ of UK insurance regs post-Brexit but potential move towards principle-based rules, says FCA
There will be “no bonfire” of UK insurance regulations post-Brexit, but the Financial Conduct Authority (FCA) believes it is an opportunity to consider a move towards more principle-based, rather than detailed, rules, according to its director of general insurance and conduct specialist supervision.  View Article
YouGov: EU elections: Britons believe Brexit Party victory will alter course of Brexit
The most likely outcome at the EU Parliament vote is also the one which Britons expect would make the biggest difference  View Article

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