Finance & Trade

Swiss Official Warns Against UK-EU "Equivalence" Deal for Finance

May 31, 2018

The Belfast Telegraph reports that Swiss state secretary for international finance Jorg Gasser has warned UK officials an "equivalence" deal between the EU and Britain facilitating access between the jurisdictions' financial markets would be subject to the political whims of Brussels, identifying "mutual recognition" as a more stable way forward for such a post-Brexit agreement.
EC Proposes Tighter Regulation of Food Supply Chain

May 24, 2018

The European Commission (EC) has issued a proposal requiring EU member states to set up regulators to prohibit a variety of "unfair trade practices" by companies in the food supply chain, targeting actions by retailers and others that the EC asserts have harmed European farmers and small businesses by decreasing their bargaining power and lowering their prices.
Rees-Mogg: Call the Bluff of EU Negotiators on Irish Border

May 24, 2018

The Express reports that UK Member of Parliament and head of the European Research Group Jacob Rees-Mogg has called on Brexit negotiators to call the bluff of EU officials rejecting UK plans for minimal border disruptions between Ireland and Northern Ireland and ramp up preparations for a scenario in which there is no withdrawal deal between the UK and EU.
Barnier Rejects UK Solutions on Irish Border

May 24, 2018

The Guardian reports that the European Commission's top Brexit negotiator Michel Barnier recently rejected two proposals from the UK aimed at preventing cumbersome customs checks along the border between Ireland and Northern Ireland, claiming the EU would not accept British "cherry picking" in maintaining some commitments to EU rules while eschewing others.
EC Turns up Pressure for Bank Capitalization Rules

May 15, 2018

Reuters reports that the European Commission (EC) is pushing for the advancement of new bank capitalization rules before European parliamentary elections next year, in a push to further the bloc's plans for an EU Banking Union even as the international Basel Committee is moving toward a deal on new capitalization rules that could make the EU rules obsolete.
Expert Lists Viable Options for Post-Brexit UK-Irish Trade

April 26, 2018

Shanker Singham of the Institute of Economic Affairs explains a variety of options available to British, Irish, and EU policymakers in avoiding a "hard" border on the island of Ireland after Brexit and writes that there is no reason, aside from lack of political will, that negotiators cannot agree an acceptable arrangement on the issue.
EU Offers UK "Improved Equivalence" Deal for Banks

April 25, 2018

Bloomberg reports that the vague wording of a recent EU negotiating document offering the UK the status of "improved equivalence" to allow its financial services industry access to the EU market after Brexit signals a split among EU member states regarding their desired treatment of British banks.
EU Officials Green-light UK Trade Talks During Transition

April 24, 2018

The Express reports that, in a recent round of UK-EU negotiations over Britain's withdrawal from the EU and future trade between the jurisdictions, EU officials agreed to permit Britain to sign - but not implement - trade deals with other countries during a post-Brexit transition period when the UK would still be bound by EU regulations.
Barnier Rejects UK Approach to Post-Brexit Trade Deal

April 23, 2018

Bloomberg reports that the European Commission's chief Brexit negotiator Michel Barnier has rejected the major points of UK Prime Minister Theresa May's plan for a UK-EU trade deal after Brexit, indicating the EU needs legal commitments from Britain to maintain EU regulatory standards in all areas to secure a wide-ranging trade agreement.
EC Works Toward Pre-Brexit Capital Markets Union

April 19, 2018

Reuters reports that the European Commission (EC) is working to advance, prior to Brexit, its plans for a Capital Markets Union with a single set of capital market rules applicable across the EU, including by recently announcing a proposal for common rules for the European covered bonds market.