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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.
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Finance Companies Support EU Transaction Tax
August 23, 2017
A press release from Oxfam celebrates a letter from 52 finance professionals calling for a group of EU member states to impose a "small" tax - deemed a "Robin Hood Tax" by Oxfam - on financial transactions to raise "substantial revenue" for people "in urgent need" throughout Europe and elsewhere in the world.
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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.
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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.
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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.
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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.
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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.
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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.
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Spain Announces Support for EU Finance Minister, Budget
August 15, 2017
Spanish President Mariano Rajoy has announced that his government will support French President Emmanuel Macron’s call for greater economic and monetary integration of the EU through the creation of an EU finance minister and EU budget.
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Moody's: "No Deal" Brexit Risks UK Credit Rating
August 14, 2017
Business Insider reports that Moody's has published a report warning that if the UK and EU do not reach an agreement on a future trade deal prior to the UK's exit from the bloc, the credit-rating agency could downgrade Britain's sovereign credit rating.