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Our new e-mail service now provides direct access to the underlying articles - with links that are live for the next seven days. If you wish to acces older articles, you will need access codes from office@grahambishop.com. I had hoped that there would be no need to continue this service but, sadly, that is not the case as the negotiations will drag on for a long time. So we will soon be introducing a small monthly charge - unless you are subscribing to our Gold service.
I have just published a new paper "Negotiating with a bloc seven times your size: Clash no 1 – Financial Services" link. I trust that it is not too technical ... "The UK will not be at the table when the EU debates reversing a key concession to the UK after the Great Financial Crash. Very technical – Yes, but very significant!"
If you are interested in European finance, we are targeting the interaction of the driving forces of politics and economics as they force the required changes in over-arching financial regulation - including ESG and Fin Tech. Details of these services are here
Articles from 6 February 2020 - 13 February 2020
Sabine Mauderer: Brexit - a push for market integration : Keynote speech by Dr Sabine Mauderer, Member of the Executive Board of the Deutsche Bundesbank, in which she refers to Brexit as a catalyst for the EU capital market, saying that strengthening the EU's market infrastructures will help Europe become a powerhouse in the global financial system. View Article
European Parliament: EU-UK future relations: “level playing field” crucial to ensure fair competition : The European Parliament had called for a level playing field to be guaranteed through robust commitments, and “dynamic alignment” of EU-UK rules. View Article
Ursula Von der Leyen - Bloomberg
Bloomberg: UK must agree to common rules to get deal, EU warns Johnson : The UK will need to go further than Canada in its commitments to the European Union if it wants to trade without tariffs and quotas, European Commission President Ursula von der Leyen warned, further raising the temperature with Britain before negotiations on the future relationship even start. View Article
Bloomberg: EU toughens negotiating demands before Brexit trade talks start : European Union governments ratcheted up their negotiating demands ahead of contentious talks about the bloc’s post-Brexit relationship with the UK in a move that risks inflaming tensions with Downing Street. View Article
Financial Times: Prepare for Brexit trade costs and red tape, says Michael Gove : Cabinet Office minister Michael Gove has admitted that a new “smart” border to cut post-Brexit trade friction with the EU will not be ready until 2025, sparking warnings that exporters and importers will face big costs at the end of the year. View Article
Financial Times: Britain and the EU are negotiating at cross purposes : Wolfgang Münchau warns that the danger is that the EU may be insufficiently flexible because its member states have different interests, while the UK has less pressure to compromise because it already accepted trade friction. View Article
Paul Goldschmidt: The “Future Relationship” between the European Union and the United Kingdom : Goldschmidt suggests some negotiating guidelines that can lead to achieving a constructive agreement that allows Britain and the EU to pretend that both parties “red lines” have not been crossed. View Article
Bloomberg: Boris Johnson wants to be a free trade grandmaster : Britain is aiming for quick trade deals with the U.S., the EU, Japan, New Zealand and Australia. None of these gambits is likely to yield a great victory, writes Therese Raphael. View Article
UK in a Changing Europe: British services have played second fiddle in the Brexit debate : Services trade has played second fiddle to talk of trade in goods and manufacturing supply chains in the Brexit debate. View Article
The Independent: Economic damage from Brexit will be up to 10 times boost from Budget spending hike, economists warn : The economic damage from Brexit will be up to 10 times the probable boost from the chancellor’s Budget plans to hike public spending, economists warn. View Article
Financial Times: City of London may need to diverge from EU rules, BoE official says : The UK cannot outsource financial regulation to the EU and may have to diverge from the bloc’s rule book in time, a deputy governor of the Bank of England has warned, as he highlighted the need for “good faith” on both sides as Brexit negotiations drill down on the future of financial services. View Article
Financial Times: Brexit: Barnier rebuffs UK pitch for ‘permanent equivalence’ in financial services : The EU’s chief Brexit negotiator warned the UK it would not be granted a permanent deal allowing City of London access to European markets, in words that will intensify concerns among financial services companies about the settlement they will receive. View Article
POLITICO: Bruno Le Maire says no Brexit bargain on finance for fish : French Finance Minister Bruno Le Maire rejected the idea of trading fishing for financial services in Brexit talks with the UK. View Article
Financial Times: Derivatives are a precious commodity in UK-EU trade : A regulatory spat over Europe’s commodity derivatives market offers a vivid example of the dilemma the City of London faces in the trade talks between the UK and the EU. View Article
City AM: UK and EU must avoid a ‘punch-up’ over financial services, says incoming BoE governor Bailey : Britain and the European Union must find a way to settle disagreements over how the UK’s finance industry can do business with the bloc without it descending into a “metaphorical punch-up”, said incoming Bank of England governor Andrew Bailey. View Article
Financial Times: Digital bank N26 to pull out of UK : N26, the $3.5bn German digital bank, has announced plans to pull out of the UK market less than 18 months after launching there, blaming Brexit. View Article
Commercial Risk Europe: French risk managers reassured over post-Brexit contract certainty : French risk managers have been reassured by their association AMRAE and market experts that there is no need to panic about the validity of coverage placed with UK-based insurers post-Brexit, but have been advised to double-check sooner rather than later. View Article
UK in a Changing Europe: Do voters want a ‘hard or a ‘soft’ Brexit? : Should Britain seek a ‘hard’ or a ‘soft’ Brexit? That question has hung over the country ever since a majority voted in a referendum to leave the EU. Now it finally has to be answered as the country embarks on the task of negotiating its post-Brexit relationship with the EU. View Article
The Independent: Boris Johnson fails to convince voters he can avoid no-deal Brexit, poll suggests : Despite the prime minister’s claim that no-deal is no longer possible, just 40 per cent of those questioned thought he would strike a free trade deal with the EU by his self-imposed deadline of 31 December, while 42% thought he would not. View Article
Financial Times: Sinn Féin success adds a post-Brexit twist : Although the formation of a new government could take weeks or months, it is clear that the surge in support for Sinn Féin has changed the political landscape in Dublin. View Article
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