Brexit Weekly
19 April 2018
Report on risks and vulnerabilities by the ESAs, CMU, Brexit and more.
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Articles from 12 April 2018 - 19 April 2018 |
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Brexit & UK |
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Report by President Donald Tusk to the European Parliament on March European Council meetings
The European Council President briefed MEPs on the outcome of the March European Council, where leaders tackled a number of issues, ranging from Russia and Turkey to trade, taxation and Brexit. View Article |
Financial Times: Brussels seeks emergency powers to prepare for hard Brexit
Brussels is issuing dozens of legal proposals on Brexit over the next 10 weeks, in a flurry of lawmaking to prepare the EU for an sharp break from the UK, partly by giving emergency powers to the bloc’s institutions. View Article |
EBA: EU financial regulators warn against risks for EU financial markets, Brexit, asset repricing and cyber-attacks key risks
The securities, banking and insurance sectors in the European Union face multiple risks, the latest report on risks and vulnerabilities by the Joint Committee of the European Supervisory Authorities (ESAs) shows. View Article |
Deputy Governor of the Central Bank of Ireland Ed Sibley: Brexit - where to next?
Sibley covered the potential impacts of Brexit on the Irish economy with a particular focus on the financial services system; addressed the impact of Brexit on financial services firms; and gave an overview of the impact of Brexit on the future regulatory framework in Europe. View Article |
Bloomberg: Irish warn June Brexit progress needed to seal October accord
Ireland’s deputy prime minister said a lack of significant progress on the border question by the time European leaders gather in June will trigger “serious questions” about whether the EU and UK can reach a Brexit withdrawal agreement in October. View Article |
Fed Trust: EU Capital Market Union positions to deliver financial services post-Brexit
CMU poses a long-term competitive challenge to the UK’s financial services sector in the EU single market, post Brexit, notwithstanding the likely difficulties the UK faces in upcoming FTA negotiations to include trade in financial and other services. View Article |
VoxEU: The impact of the Brexit vote on European Capital Markets Union
This column argues that there is a strong case for the Capital Markets Union project to continue with the remaining EU27 members after Brexit, including stronger central oversight. View Article |
Bloomberg: UK won't pay Brexit bill until trade deal is clear, Davis says
The British Parliament could block the Brexit deal if the European Union fails to offer a detailed blueprint for the future terms of trade with the UK, Brexit Secretary David Davis said. View Article |
The Times: Canada champions UK trade deal but India doubts grow
Brexit will allow Canada to negotiate a larger and “more impactful” trade agreement with Britain than its deal with the European Union, Justin Trudeau has said. View Article |
The Guardian: Each Brexit scenario will leave Britain worse off, study finds
The study for the thinktank Global Future, found that a bespoke deal, the government’s preferred option, would have a net negative fiscal impact of about £40bn a year. View Article |
Financial Times: Brexit Britain slides down Europe’s economic league table
Britain’s economy will perform worse than the rest of Europe, except Italy, over the next two years as it navigates Brexit, the IMF said in its latest World Economic Outlook. View Article |
Bloomberg: EU boost to UK services may fuel concerns over Brexit deal
The European Union was the largest contributor to the growth in U.K. services exports in the fourth quarter. The figures released by the ONS may fuel concerns that Britain ends up with a Brexit deal that does little for services, which account for almost 80 percent of the British economy. View Article |
Bloomberg: Lawmakers could still thwart Brexit when deal reaches Parliament
UK lawmakers could send Prime Minister Theresa May back to the negotiating table, engineer a second referendum or prompt a general election when the final Brexit deal comes to Parliament for approval, according to an influential think tank. View Article |
Financial Times: Government suffers Brexit defeat in House of Lords
The House of Lords defeated the government in a key Brexit vote, demanding that ministers take steps to negotiate a new customs union with the EU. View Article |
BBC: Brexit: 'People's Vote' campaign group launched
MPs, celebrities and business leaders have launched a campaign calling for a public vote on the final Brexit deal between the UK and the European Union. View Article |
Bloomberg: Dutch expect 30 big financial firms to seek license on Brexit
Brexit will lead as many as 30 “significant” financial firms to seek a license to operate in the Netherlands, according to the country’s top regulator. View Article |
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Graham's tweets |
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The outcome is perhaps less surprising than the size of the majority: 348 to 225 (123 vote majority). Very difficult for the government to overturn that. https://t.co/wu3WmIRUMO
'Bespoke' deal with the EU would leave Britain £40bn worse off per year, or £615m per week according to govt own stats. No wonder many leavers say #Brexit not worth it. Growing calls to stop the madness #FBPE
Brussels seeks emergency powers to prepare for hard Brexit https://t.co/hv2Tf3iruW
Standing ovation for @EmmanuelMacron who gave a barnstorming performance to the European Parliament with his vision for Europe. Pity the UK won't be part of the debate.
EXCLUSIVE Chinese ambassador to EU: No UK trade talks without a Brexit dealhttps://t.co/HAbpavHIGG by @vonderburchard @HankeVela
A new poll by Opinium for anti-Brexit group Open Britain showed solid support for a second referendum on the final deal: 52% back a vote on the terms with 31% opposing, with support highest among Labour supporters.
Britain won't pay its Brexit bill until the EU offers a detailed plan on trade, David Davis says https://t.co/P2vlgNjUg0 pic.twitter.com/KKBiVWvfc4
© Graham Bishop
Brexit & UK