Finance & Trade

NGO Director: UK Must Not Remain in EU Customs Union

January 16, 2018

Henry Newman of British think tank Open Europe writes that a decision by the UK to remain in the EU's customs union after Brexit, with no ability to guide EU trade policy and no option to strike trade deals with non-EU countries around the world, would be a "disastrous" choice for the country.
Cleppe: EU Must Reduce Spending After Brexit

January 11, 2018

Pieter Cleppe of the think tank Open Europe writes that European President Jean-Claude Juncker's push to increase the EU budget after the exit of Britain from the bloc will only heighten euroskeptic concerns about the EU's "excessive spending programs" and "burdensome overregulation" and will continue to strike at the reputation of the supranational organization.
Swiss President Supports Vote on Future EU Relations

January 09, 2018

Reuters reports that Swiss President Doris Leuthard has suggested a "fundamental referendum" to clarify the direction of Switzerland's future relations with the EU and whether to pursue a "framework treaty" with the bloc would be helpful.
Swiss President Criticizes EU "Discrimination" on Stock Exchanges

January 09, 2018

Bloomberg reports that Swiss President Doris Leuthard recently accused the EU of discriminating against Switzerland by only granting the country's stock exchanges temporary access to EU markets, finding that the supranational organization's decision may be "intended to weaken Switzerland's financial sector."
Officials Plan Broadened EU Oversight of UK Financial Firms

January 09, 2018

Bloomberg reports that, with an eye toward Brexit, the European Commission has proposed new rules to broaden EU oversight of financial firms deemed "systemic," many of which will be UK firms establishing new offices in the EU after Britain leaves the bloc, and to tighten equivalence rules determining whether foreign financial firms may operate within the bloc.
Officials Consider Creation of EU-UK Trade Tribunal

January 08, 2018

The Express reports that UK government officials are considering a proposal to establish a new international tribunal after Brexit to resolve trade disputes between the EU and Britain and replace the authority of the Court of Justice of the EU over the UK.
Howe: "Closed" EU Trade Deal Could Hurt Britain

January 05, 2018

British barrister Martin Howe QC writes that a free trade deal with the EU will not help the British economy if it requires the UK to retain such close regulatory convergence with the bloc that it shuts out possibilities of trade deals with other global economies.
UK Official Seeks Same Trade Status with EU After Brexit

January 05, 2018

In a recent interview, the UK's International Trade Secretary Liam Fox said he hoped the UK and the EU would strike a "full and comprehensive agreement on trade that’s as close to what we have today as possible," raising questions about the extent to which relations between the jurisdictions would change following Brexit.
Critics Oppose Macron's EU Policy of "Soft Protectionism"

January 03, 2018

Politico reports that a group of EU political and civil society leaders are concerned that French President Emmanuel Macron is threatening the integrity of the EU by pushing for economic policies that boost a "soft protectionism" of French companies and workers at the expense of other countries in the bloc.
EU Council: Bank Guidelines Overstep ECB Authority

December 20, 2017

Reuters reports that the Council of the EU, adding its voice to that of the European Parliament, has issued a legal opinion that the European Central Bank (ECB) does not have the authority to issue guidelines it has proposed for banks across the eurozone advising that they set aside additional cash to deal with bad loans.