Finance & Trade

Australian PM Seeks Quick Trade Deal with Post-Brexit UK

July 26, 2019

Politico reports that Australian Prime Minister Scott Morrison has said he is ready to strike a trade deal with the UK in a matter of weeks or months after Britain withdraws from the EU customs union.
EC Proposes Framework for Eurozone Budgetary Instrument

July 25, 2019

The European Commission (EC) has proposed a governance framework for a eurozone Budgetary Instrument for Convergence and Competitiveness that will set priorities for investments and reforms to promote the convergence of the economies within the currency area.
UK Peer: Irish "Backstop” Would Harm Good Friday Agreement

July 23, 2019

Lord David Trimble, who helped negotiate the 1998 Good Friday Agreement between the British and Irish governments, has argued that the potential separation of Northern Irish territory from the UK’s market under the Irish "backstop” provision of the current EU-UK Brexit deal would “wreck” the Good Friday Agreement.
Commission Offers New Options for Post-Brexit Irish Border

July 19, 2019

UK Member of Parliament Nicky Morgan describes how the final report of the Alternative Arrangements Commission, set up by the nongovernmental organization Prosperity UK, offers fresh options for the post-Brexit Irish border that can replace the controversial “backstop” provision in the current UK-EU deal.
UK Leadership Candidates Vow to Jettison Irish Backstop

July 18, 2019

Reuters reports that the two candidates to lead the UK Conservative Party, and become the next Prime Minister, have both announced plans to scrap the “Irish backstop,” a provision in the currently negotiated UK-EU Brexit deal that would subject Northern Ireland to EU rules in case no further deal is agreed.
BoE Body: UK Has Limited Financial Risks of No-Deal Brexit

July 18, 2019

The Bank of England’s (BoE) Financial Policy Committee has published a report concluding that “the core of the UK financial system” is prepared for the risks associated with a no-deal Brexit and that the UK has taken action to mitigate the financial disruption that would occur in such a scenario.
Lawyer Calls for Reset of Brexit Trade Negotiations

July 03, 2019

Barrister Martin Howe QC calls on the next UK Prime Minister to scrap the previous withdrawal agreement concluded with the EU in favor of a simple UK-EU free trade agreement that would serve as a bridge to a future healthy and robust trading relationship between the UK and EU and between the UK and other countries.
EC Sets out Conditions for Irish Backstop Alternative

July 01, 2019

RTE reports that European Commission (EC) officials have set out five conditions for any “alternative arrangements” that could prevent the controversial Irish border backstop from coming into force in a Brexit deal, including no “hard border,” compliance with trade rules, and equal treatment across EU member states.
Switzerland Bans Trade of Shares on EU Exchanges

July 01, 2019

Swiss authorities have banned the trading of shares of Swiss companies on EU stock exchanges, retaliating over the refusal of EU officials to renew the "equivalence" designation for Swiss exchanges after negotiation of a framework treaty on Swiss-EU relations stalled.
Switzerland Retaliates Against EU Equivalence Announcement

June 25, 2019

Reuters reports that, in the latest dispute over the stalled EU-Switzerland partnership treaty, the Swiss government says it will retaliate against the EU’s refusal to extend an equivalence determination permitting EU companies to trade on Swiss stock exchanges by blocking EU exchanges from trading Swiss shares.