Finance & Trade

Former EU Official: UK Must Make Choice on Financial Rules

March 20, 2018

Former European Commissioner for finance, UK peer Jonathan Hill writes that the UK must abandon the negotiation of impossible terms of financial "access" with EU officials and must instead spell out the choice between taking rules from the EU, with access to its markets, and having the final say over financial rules, with short-term market disruption.
EP Brexit Chief Denies Special Financial-Services Deal

March 19, 2018

City A.M. reports that the European Parliament's (EP) designated Brexit chief, Guy Verhofstadt, has warned the UK that EU negotiators will not accept a "bespoke" deal on financial services permitting "passporting" rights to British financial companies wishing to operate across the bloc.
EU Officials Reject UK Approach to Post-Brexit Trade

March 09, 2018

The Guardian reports that, prior to UK Prime Minister Theresa May's recent cabinet meeting to agree a "three baskets" approach to post-Brexit trade with the EU, involving regulatory harmonization with the EU in some areas and divergence in others, EU officials rejected the approach as inconsistent with the political vision of the EU project.
Tusk Labels UK Trade Proposal "Pure Illusion"

March 08, 2018

Politico reports that, during a recent press conference, European Council President Donald Tusk labeled Britain's negotiating position on a post-Brexit trade deal with the EU as "pure illusion," stating that an attempt to accept EU standards in some areas but not in others in exchange for market access is an unacceptable form of "cherry-picking."
EP Paper Seeks "Privileged" Market Access for UK

March 08, 2018

The Sun reports that a document produced by senior officials in the European Parliament (EP) calls for EU negotiators to offer the UK "privileged" access to the EU common market after Brexit in exchange for commitments from Britain to maintain EU standards and accept rulings from the Court of Justice of the EU.
EU Analysis Rejects May's Post-Brexit Vision

March 07, 2018

The Guardian reports that, according to leaked EU analysis of UK Prime Minister Theresa May's recent speech setting out her government's desired post-Brexit relationship with the EU, the speech presented an unworkable model of EU-UK cooperation that should be considered incompatible with the structure and aims of the supranational bloc.
Cleppe: Barnier Is "Reckless" on Brexit Transition Terms

March 06, 2018

Pieter Cleppe of the think tank Open Europe argues that the recent position taken by the European Commission's chief Brexit negotiator Michel Barnier on the UK's rights during any post-Brexit transition period is "unreasonable and reckless," refusing Britain many of the rights enjoyed by countries, like Norway, that have ties to the EU without being a member.
Irish Leader Pushes for "Comprehensive" UK-EU Trade Deal

March 05, 2018

The Express reports that Irish Taoiseach Leo Varadkar has called for a "comprehensive free trade agreement" between the UK and EU as the best option for avoiding customs and security checks along the border between his country and Northern Ireland after Brexit.
EU Official: Future Trade Deals Will Include Climate Pledge

March 01, 2018

The Independent reports that European Commissioner for trade Cecilia Malmström has announced that the EU will require a binding reference to the 2015 UN Paris climate agreement in all future trade deals it signs with other jurisdictions.
EC Plans Global Application of Data Rules

February 15, 2018

David Schrieberg writes that the European Commission (EC) is planning to apply its General Data Protection Regulation (GDPR), coming into force in May this year, to foreign companies providing goods and services to citizens of EU member states and to ensure future trade and investment deals require compliance with the GDPR.