09 January 2020

Brexit Weekly

UK MPs pass withdrawal agreement bill, Von der Leyen says time too short for comprehensive post-Brexit deal by 2021, European Commission president says 2020 trade talks deadline may need to be extended, Brussels threat to block City trade unless UK agrees to Europe’s rules and more.

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 19 December 2019 - 9 January 2020   The National Bureau of Economic Research: The global impact of Brexit uncertainty : Authors find that the impact of Brexit-related uncertainty extends far beyond British or even European firms; US and international firms most exposed to Brexit uncertainty lost a substantial fraction of their market value and have also reduced hiring and investment. View Article Ursula von der Leyen for DER SPIEGEL Ursula von der Leyen: 'The Brexit drama is a bitter lesson for populists' : European Commission President Ursula von der Leyen has no shortage of challenges facing her as she begins her tenure. She spoke with DER SPIEGEL about Donald Trump, climate change and the state of democrats inside the EU. View Article Financial Times: Brussels uneasy over EU citizens’ rights after Brexit : Brussels has warned the UK it will be vigilant in policing Britain’s respect for EU citizens’ rights, saying Britain must honour the obligations of the divorce deal that will end the country’s membership of the bloc at the end of this month. View Article The Guardian: Net migration from EU into UK at lowest level since 2003, ONS says : Net migration from the EU into the UK is at its lowest level since before the bloc was enlarged to take in countries including Poland and Lithuania, figures suggest. View Article Bloomberg: UK third-quarter growth revised higher : The UK economy grew more strongly than previously estimated in the third quarter on the back of the dominant services sector, figures published by the Office for National Statistics showed. View Article The Guardian: Optimism among small UK businesses slumps to eight-year low : The Federation of Small Businesses’s confidence gauge fell in October-December for the sixth quarter in a row. Managers at firms across the UK reported worries about the domestic economy and pessimism about opportunities overseas. View Article The Guardian: Business hope fading for Brexit clarity in 2020, Bank says : Growing numbers of business leaders in the UK believe Brexit uncertainty will take longer to resolve than Boris Johnson pledged before the election, according to a Bank of England survey. View Article The Irish Times: Johnson will abandon pledge on Brexit transition period - Hogan : British prime minister Boris Johnson will abandon his pledge not to extend the transition period for the UK’s exit from the European Union beyond December 2020, European commissioner Phil Hogan believes. View Article BBC: Brexit: EU chief says 2020 trade talks deadline may need to be extended : The deadline for negotiating the UK's future relationship with the EU may need to be extended, the European Commission president has said. View Article Financial Times: UK at ‘end of queue’ for data deal with Brussels : The UK is at the “end of the queue” for a deal to allow data to continue to flow freely with the EU after Brexit, according to a senior European official. View Article The Times: Brussels threat to block City trade unless UK agrees to Europe’s rules : Brussels will threaten to block the City of London’s access to European markets in an opening salvo of post-Brexit trade talks in the new year. View Article The Guardian: UK employment levels at risk due to Brexit and stalling investment : The labour market is at a turning point, according to a report from the Resolution Foundation. It forecasts that average real pay – allowing for inflation – will surpass the peak it reached in 2008. View Article Joschka Fischer: Toward a privileged EU-UK partnership : After the United Kingdom's general election , the Brexit debate is over. The country will leave the European Union on January 31, 2020, which means that now is the time to start drafting a blueprint for the future relationship, particularly regarding security policy. View Article Boris Johnson bill passes Parliament - TRT World The Guardian: Brexit: MPs pass withdrawal agreement bill by 124 majority : Britain has taken a pivotal step towards leaving the European Union as Boris Johnson was rewarded for the Conservatives’ thumping general election victory with a majority of 124 for his Brexit deal in the House of Commons. View Article The Guardian: Post-Brexit UK always welcome back in EU, says Timmermans : Britain has been unnecessarily damaged by Brexit and “more will follow”, the vice-president of the European commission has written in a “love letter” to the British people in which he promises a warm welcome back should attitudes change. View Article EurActiv: EU charts path for ‘challenging’ post-Brexit UK deal : EU will keep engaging with the UK through the WTO and the UN as both sides work out a deal on their future ties once Britain leaves the bloc, according to the top Brexit negotiator in Brussels, Michel Barnier. View Article Financial Times: Bank of England sticks to forecast of post-election rebound in growth : The Bank of England is counting on a post-election boost to the UK economy, with policymakers leaving interest rates on hold despite mounting evidence that growth ground to a halt in the final months of the year. View Article Institute of Directors: Post-election boost for British business leaders : Directors’ confidence leapt sharply upward following the election, entering positive territory and reaching its highest level since the 2016 EU referendum, according to the latest IoD Confidence Tracker. View Article ESMA extends recognition decisions for 3 UK CCPs in the event of a no-deal Brexit : ESMA announced that it has extended the recognition decisions for the three central counterparties established in the United Kingdom to reflect the extension of the expiry date of the Implementing Decision (EU) 2018/2031 of the European Commission on the equivalence of the UK CCP legal framework. View Article City of London Corporation: UK financial services sector maintains record tax contribution : The twelfth edition of The City of London Corporation's annual Total Tax Contribution of UK Financial Services report, produced by PwC, analyses the taxes paid by the sector in the year to March 2019.  View Article City AM: EU chief von der Leyen: Time too short for comprehensive post-Brexit deal by 2021 : The new head of the European Commission has said there will not be enough time for the UK and European Union to reach a comprehensive trade agreement by the end of 2020, saying the two sides “must prioritise”. View Article POLITICO: Macron: UK must show flexibility during post-Brexit negotiation : French PM Emmanuel Macron asked the United Kingdom to "show flexibility" during negotiations over its future relationship with the European Union in the coming year. View Article The Sydney Morning Herald: Morrison government rules out visa-free travel between Australia, UK : The Morrison government has baulked at expanding a new post-Brexit trade pact to include visa-free work and travel between Australia and the United Kingdom, arguing any special deal that circumvented existing immigration caps could be deeply unpopular in both countries. View Article   Graham Bishop #FBPE retweeted NBER @nberpubs US and international firms most exposed to Brexit uncertainty lost a substantial fraction of their market value and significantly reduced hiring and investment, from Tarek Alexander Hassan, Stephan Hollander, Laurence van Lent, and Ahmed Tahoun nber.org/papers/w26609 pic.twitter.com/nebtHMOns6   Graham Bishop #FBPE retweeted Financial Times @FT Brussels warns UK over future trade relationship ambitions on.ft.com/2QxsRx6   Graham Bishop #FBPE retweeted SPIEGEL English @SPIEGEL_English European Commission President Ursula von der Leyen: 'The Brexit Drama Is a Bitter Lesson for Populists' dlvr.it/RMb65M pic.twitter.com/Fro1LAKioB   Graham Bishop #FBPE retweeted POLITICO Europe @POLITICOEurope The French president says the EU will approach post-Brexit talks "in cold blood" politi.co/2QY7TGC   Graham Bishop #FBPE retweeted POLITICO Europe @POLITICOEurope Pedro Sánchez confirmed as Spanish prime minister politi.co/2QXU6jm   Graham Bishop #FBPE retweeted Bloomberg Brexit @Brexit Boris Johnson is facing pressure from British businesses over the post-Brexit trade deal trib.al/tTHas2Z   Graham Bishop #FBPE retweeted Steve Peers @StevePeers Epic fail for the CANZUK bros Australian trade minister 'can't imagine' free movement talks with UK a.msn.com/01/en-gb/BBYEC…   Graham Bishop #FBPE retweeted Sky News @SkyNews Labour is to attempt to delay leaving the EU by two years to prevent a no-deal #Brexit po.st/d1sV0r   Graham Bishop #FBPE retweeted Jennifer Rankin @JenniferMerode How Brexit looks to @lemondefr - no party has explained what is at stake in dismantling thousands of links with EU. “The British, blindfolded, have given the keys to the kingdom to a man who has not told them what kind of relations he wishes to preserve with the continent.” pic.twitter.com/3lh0NSwT5f   Graham Bishop #FBPE @GrahamBishopcom Here's my video invitation to 158th Brussels for Breakfast, in which i suggest - and request - ideas for the next #B4B debate on January 14th 2020. With my best wishes for a happy Xmas! ow.ly/vzIF50xDW1N   About this email If you do not wish to receive these e-mails, please click this link If you wish to add a colleague, please inform: office@grahambishop.com Euro Crisis Limited PO Box 2002, Battle, East Sussex, TN33 0WL, UK Tel:+44 (0)1424 777123 Email: info@grahambishop.com (Registered in England and Wales No. 7984039)   © Copyright 2020 Graham Bishop

 

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