Finance & Trade

Germany, France Propose Reform of EU Competition Rules

February 22, 2019

Reuters reports that the German and French economy ministers have backed proposals to overhaul EU foreign investment rules and to give the Council of the EU the authority in some cases to override European Commission antitrust decisions.
EC Targets Billions in Funding for Environmental Projects

February 21, 2019

The European Commission (EC) has announced that it will provide €116.1 million as part of its “LIFE programme for the Environment and Climate Action” to fund projects across the EU aimed at promoting biodiversity and combating the impacts of global warming, potentially leading to €3.2 billion in environmental funding from the EU budget.
EU Institutions Agree to Bloc-Wide Pension Product

February 14, 2019

The European Parliament and diplomats from EU member states have reached a deal to advance legislation creating a “pan-European personal pension product” as another step toward the EU’s ongoing centralization of financial regulation in a Capital Markets Union.
EU Plans Transport Links with Ireland in Case of No-Deal Brexit

February 14, 2019

As EU institutions ramp up preparations to manage a no-deal Brexit, the rotating presidency of the Council of the EU, currently held by Romania, has agreed with the European Parliament to a set of contingency plans to establish transport links between Ireland and other EU members in case the UK and EU do not reach a withdrawal deal.
Economist: “Malthouse Compromise” Offers Path Forward for Brexit

February 13, 2019

Dr. Graham Gudgin of UK think tank Policy Exchange argues that EU institutions would likely accept the provisions of the “Malthouse Compromise” proposed by members of the UK Conservative Party as a free-trade alternative to the government’s current withdrawal deal and its “backstop” provisions that would keep the UK closely tied to EU regulations.
UK’s May Rejects Permanent Customs Union with EU

February 11, 2019

Reuters reports that UK Prime Minister Theresa May has rejected a push by the head of the British Labour Party Jeremy Corbyn to embrace a permanent customs union with the EU after Brexit, indicating her government’s preference for reclaiming an independent trade policy when it withdraws from the EU.
UK, Switzerland Agree Post-Brexit Trade Terms

February 11, 2019

Sky News reports that the UK and Switzerland have signed a trade continuity agreement to maintain trade relations between the two countries following the UK’s withdrawal from the EU in what is the fourth instance of Britain agreeing to continue favorable trade terms with countries after Brexit.
UK Officials Plan Sweeping Tax Cuts in Case of No-Deal Brexit

February 08, 2019

The Express reports that the British government has put together plans, called “Project After,” for a range of domestic corporate and sales tax cuts and tariff reductions to boost economic growth in the case of a no-deal Brexit.
Juncker: EU Will Not Renegotiate Brexit Deal with UK

February 07, 2019

In a statement this week, European Commission President Jean-Claude Juncker reiterated that the current Brexit Withdrawal Agreement “is the best and only deal possible” and “is not open for renegotiation,” indicating the EU is open to financial and other support for Ireland in the case of a no-deal Brexit.
UK Labour Leader Offers Support for Brexit Deal with Customs Union

February 07, 2019

A letter from the head of the UK Labour Party Jeremy Corbyn offers the opposition party’s support for Prime Minister Theresa May’s EU withdrawal deal if the government makes a set of legally binding commitments, including a pledge to remain in a customs union with the EU and align the country with the bloc’s single market.