Brexit Weekly

08 February 2018

European Commission Position paper on transitional arrangements, British-based banks' acces to single market after Brexit, Brexit bill and more.

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European Commission Position paper "Transitional Arrangements in the Withdrawal Agreement"
The Commission published the draft legal text on transitional arrangements to be included in the Article 50 Withdrawal Agreement.  View Article
Financial Times: Time for UK to make a choice on Brexit trade future, warns Michel Barnier
Michel Barnier, the EU’s chief Brexit negotiator, has warned that future trade barriers will be “unavoidable” if the UK chooses to leave the bloc’s customs union.  View Article
Financial Times: British banks running out of time on post-Brexit EU access
British banks are running out of time to guarantee they will be able to continue operating in the European Union after Brexit, according to the Vice-Chair of the Supervisory Board of the ECB Sabine Lautenschläger.  View Article
The Telegraph: Brussels could force Britain to follow nearly 40 EU laws during transitional period
Approximately 40 European Union directives could be imposed on Britain in the two-year transition period post-Brexit, according to a leaked Whitehall report.  View Article
POLITICO: EFTA court could answer post-Brexit judicial quandary
‘Docking’ with the European Free Trade Association (EFTA) Court as a dispute resolution body would have advantages for both the UK and EU, writes Georgina Wright.  View Article
Financial Times: EU seeks powers to stop post-Brexit bonfire of regulation
The EU is threatening sanctions to stop Britain undercutting the continent’s economy after Brexit, including “tax blacklists” and penalties against state-subsidised companies, according to a strategy paper.  View Article
Financial Times: US raises pressure over EU plan for changes to fund rules
US regulators and lobby groups are stepping up their resistance to moves by Brussels that could restrict non-EU fund managers from accessing the single market.  View Article
Financial Times: FCA chief urges EU regulator pact on transition
The head of the UK’s financial regulator has called on other European watchdogs to support a Brexit transition period by signing a memorandum of understanding that gives City of London companies time to adjust to Britain’s exit from the EU.  View Article
Financial Times: Deutsche Börse makes ground in UK derivatives push
Incentive scheme introduced by German clearing house wins business from London.  View Article
Bloomberg: Europe won’t need London finance, France says
European companies will do just fine with reduced access to London’s financial markets after the UK leaves the European Union, France says, dismissing suggestions they may suffer.  View Article
TheCityUK: Export boom in financial and related professional services across Britain
A new TheCityUK report shows British financial and related professional services enjoyed a record year of exports in 2016, up by 15.8% to £95.7bn.  View Article
Bloomberg: EU says UK could face higher Brexit bill
The UK will be asked to make financial contributions to the European Union after Brexit that could go beyond what was agreed last year, according to a draft document on the bloc’s position.  View Article
OMFIF: EU unity on Brexit not guaranteed
In the first phase of negotiations, EU countries showed impressive unity, but this mutuality will not be as strong in the second phase of talks, as different patterns of trade and interaction with the UK emerge, according to John Nugée.  View Article
University of Sussex: High-tech industries face biggest Brexit slowdown
Even signing a Free Trade Agreement with every other country in the world would not make up for leaving the EU without a trade deal, according to researchers at the UK Trade Policy Observatory (UKTPO) at the University of Sussex.  View Article
The Telegraph: Leaked Brexit analysis reveals EU migration will fall by just 40,000 a year under free trade deal
Ministers are drawing up plans for a post-Brexit immigration policy which would see just 40,000 fewer EU migrants a year come to UK, a leaked impact assessment suggests.  View Article
House of Lords' EU Internal Market Sub-Committee: Opportunity for a more effective competition regime post-Brexit
The EU Internal Market Sub-Committee publishes its report on the implications of Brexit for competition matters encompassing: anticompetitive conduct or agreements (antitrust), merger control, and State aid.  View Article
POLITICO: UK voters want ministers to prioritize economy after Brexit: poll
British voters want the government to prioritize the economy over controlling immigration in negotiating the UK’s exit from the EU, according to a poll seen by POLITICO.  View Article
LSE: What do Scots think about Brexit and the EU?
Scotland voted to Remain, but is it really less Eurosceptic than the rest of the UK? Ian Montagu looks at public opinion and finds underlying views do not differ greatly. Nor has Brexit markedly altered the debate about independence.  View Article
 

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