Finance & Trade

Economist: “Malthouse Compromise” Offers Path Forward for Brexit

February 13, 2019

Dr. Graham Gudgin of UK think tank Policy Exchange argues that EU institutions would likely accept the provisions of the “Malthouse Compromise” proposed by members of the UK Conservative Party as a free-trade alternative to the government’s current withdrawal deal and its “backstop” provisions that would keep the UK closely tied to EU regulations.
UK’s May Rejects Permanent Customs Union with EU

February 11, 2019

Reuters reports that UK Prime Minister Theresa May has rejected a push by the head of the British Labour Party Jeremy Corbyn to embrace a permanent customs union with the EU after Brexit, indicating her government’s preference for reclaiming an independent trade policy when it withdraws from the EU.
UK, Switzerland Agree Post-Brexit Trade Terms

February 11, 2019

Sky News reports that the UK and Switzerland have signed a trade continuity agreement to maintain trade relations between the two countries following the UK’s withdrawal from the EU in what is the fourth instance of Britain agreeing to continue favorable trade terms with countries after Brexit.
UK Officials Plan Sweeping Tax Cuts in Case of No-Deal Brexit

February 08, 2019

The Express reports that the British government has put together plans, called “Project After,” for a range of domestic corporate and sales tax cuts and tariff reductions to boost economic growth in the case of a no-deal Brexit.
Juncker: EU Will Not Renegotiate Brexit Deal with UK

February 07, 2019

In a statement this week, European Commission President Jean-Claude Juncker reiterated that the current Brexit Withdrawal Agreement “is the best and only deal possible” and “is not open for renegotiation,” indicating the EU is open to financial and other support for Ireland in the case of a no-deal Brexit.
UK Labour Leader Offers Support for Brexit Deal with Customs Union

February 07, 2019

A letter from the head of the UK Labour Party Jeremy Corbyn offers the opposition party’s support for Prime Minister Theresa May’s EU withdrawal deal if the government makes a set of legally binding commitments, including a pledge to remain in a customs union with the EU and align the country with the bloc’s single market.
Ireland Asks EU for Long-term Funding in Case of No-Deal Brexit

February 06, 2019

The Guardian reports that the Irish government is calling for long-term funding from the EU to offset the country’s predicted loss in food exports to Britain if the UK leaves the bloc without a deal at the end of March.
EU Institutions Agree to Harmonize Asset Marketing Rules

February 06, 2019

The European Parliament and EU Council have reached an agreement on legislation to harmonize rules across EU member states to encourage the marketing of funds by asset managers across the bloc and to take another step toward the construction of an EU “Capital Markets Union.”
EU Body Seeks to Extend Aviation Certificates in Case of No-Deal Brexit

February 06, 2019

Highlighting the continued work of EU institutions aimed at managing a potential no-deal Brexit scenario, the EU Council’s Permanent Representatives Committee has agreed its position on a proposal to extend the validity of various aviation safety certificates for airlines based in the UK if Britain and the EU fail to come to a withdrawal agreement.
EU Bank Allocates Billions to Global “Climate Action”

February 06, 2019

In a recent press release, the European Investment Bank touts its successful navigation of a “politically difficult environment” in 2018, involving the increased popularity of “parochial nationalism,” to deliver hundreds of billions in global investments, with nearly 30 percent of its financing aimed at combating climate change.