172nd Brussels 4 Breakfast - 22 April 2021
Why you should
The Commission's recommendation
that the UK should be excluded from the Lugano Convention is big (and bad)
news. More evidence that Brussels has little interest in accommodating the UK -
and still less in doing a deal to bail out the City. That will also come up
when CRD6 is published - even though it is really the EU's response to the
external shock of Basel3 (which also, and equally, hits Britain). Other issues:
the EU's push for instant payments, talk of an ECB digital currency, and lots
to worry about on the ESG side.
on the Brexit 'hit' to the City of London
- E - Equity, derivatives, bonds
- Equivalence – already in the dustbin of history?
The famous MoU – does it achieve anything
· - English law and securities – remarkably boring
but may turn out to be vital
· - “Kind strangers” needed to fund the biggest
(even before the Brexit hit!) current account deficit amongst major countries.
12 February - Blog "Brexit: Ending the City’s Dominance of European Finance?"
19 February - video: Well-received conversation with the Director of the Federal
Trust, Brendan Donnelly, on "Brexit: Ending the City’s Dominance of
Graham Bishop's analysis targets the interaction of the driving forces of politics and economics as they force the required changes in financial regulation – at the macro level - rather than covering the micro aspects of detailed implementation. These are precisely the topics where a well-informed financial professional should remain competent: it can form part of their Continuing Professional Development (CPD).
Banking union and capital markets union are already underway, but obstacles remain and consumer protection is a necessary conditon for success.
The next big project – enhancing the international role of the euro – is only under discussion but the EU is seeking to neutralise any “weaponising” of the dollar
Environmental, Social and Governance (ESG) policies are a key priority for the new Commission – with a European Green Deal planned within its first 100 days. But “sustainable finance” goes beyond “green” and includes social considerations as well as the governance that brings it to the forefront of financial decision-making.
The Fin Tech Action Plan will help the financial industry make use of the rapid advances in technology such as blockchain and other IT applications and strengthen cyber resilience. The impact on payment systems will be at the cutting edge.
Access our insights
As a `Friend of GrahamBishop.com' you can easily `scan the horizon’ for politics and economics driving regulatory reform of European financial markets by joining the 'Brussels' Finance Watchers community
His proposal for a Temporary Eurobill Fund is one of the range of options in this study. His proposal offers a modest, technical but concrete step that can be expanded progressively into a financial, economic and political structure if circumstances develop propitiously. This author has developed the TEF plan over several years and has comprehensively updated it in the form of “30 FAQs”. Click to download.