Finance & Trade

EC Proposes Further Centralization of Finance Supervision

October 19, 2017

In its move toward a full-fledged Capital Markets Union, the European Commission (EC) has proposed a reform of the EU's financial regulation that will result in more centralized supervisory power in supranational banking authorities and the promotion of "sustainable finance" to further the social and environmental goals of the UN.
European Commission Proposes Further Financial Integration

September 21, 2017

The European Commission has formally proposed several measures to further integrate banking and capital markets throughout the EU by granting new powers to supranational financial regulators, including the ability to expand funding by directly taxing regulated companies.
EU Body Seeks Bank Subsidiary Requirements

September 15, 2017

Reuters reports that, in response to similar legislation in the US, the European Commission has produced a discussion paper pushing for regulations requiring that foreign banks doing business in the EU set up subsidiary structures within the bloc permitting EU institutions to scrutinize their activities.
Merkel Offers Limited Support for EU Finance Integration

August 30, 2017

In a press conference in the lead-up to the country's general election in September, German Chancellor Angela Merkel reiterated her support for expanded powers of an EU bailout fund and for the establishment of a eurozone finance minister but stated that she would only agree to a "small budget" for such EU finance centralization.
Paper: Brexit Allows for EU "Capital Markets Union" Push

August 23, 2017

A paper from the Centre for International Governance Innovation asserts that Britain's exit from the EU offers a chance for the bloc to push "ambitious" reforms toward centralizing EU financial policy in a single Capital Markets Union within all of the remaining 27 member states of the bloc.
Australia Seeks Equal Immigration Treatment in UK

August 23, 2017

The International Business Times reports that, in early discussions regarding a potential post-Brexit trade deal between the two countries, the Australian government has called on the UK to ease immigration restrictions for citizens of Commonwealth countries in line with those on EU citizens in exchange for a free trade deal.
EU Members Seek Permission to Block Foreign Acquisitions

August 22, 2017

Reuters reports that, in a potential response to recent acquisitions in Europe by state-owned Chinese companies, the governments of France, Germany, and Italy have sent a letter to EU officials requesting rules bolstering their national authority to prevent foreign corporate takeovers in the bloc.
UK Declines to Reject Post-Brexit EU Customs Policing

August 21, 2017

Reuters reports that UK finance officials have declined to say whether they would be open in Brexit negotiations to allowing EU customs authorities to oversee the country's goods importation processes as part of a new customs arrangement following Britain's exit from the bloc.
German Court Refers Asset-Purchase Challenge to ECJ

August 16, 2017

Reuters reports that the German Federal Constitutional Court has referred a legal challenge of the European Central Bank's (ECB) $2.7 trillion asset-purchase scheme to the Court of Justice of the EU (ECJ), expressing doubt that the policy, commonly known as quantitative easing, is within the ECB's mandate under EU law.
UK Plans "Invisible" Post-Brexit Border with Ireland

August 16, 2017

The Guardian reports that the UK Government is publishing a paper setting out its plans to negotiate an open border with Ireland that requires no new border posts and allows goods and people to move freely into Northern Ireland.