Finance & Trade

Ireland Asks EU for Long-term Funding in Case of No-Deal Brexit

February 06, 2019

The Guardian reports that the Irish government is calling for long-term funding from the EU to offset the country’s predicted loss in food exports to Britain if the UK leaves the bloc without a deal at the end of March.
EU Institutions Agree to Harmonize Asset Marketing Rules

February 06, 2019

The European Parliament and EU Council have reached an agreement on legislation to harmonize rules across EU member states to encourage the marketing of funds by asset managers across the bloc and to take another step toward the construction of an EU “Capital Markets Union.”
EU Body Seeks to Extend Aviation Certificates in Case of No-Deal Brexit

February 06, 2019

Highlighting the continued work of EU institutions aimed at managing a potential no-deal Brexit scenario, the EU Council’s Permanent Representatives Committee has agreed its position on a proposal to extend the validity of various aviation safety certificates for airlines based in the UK if Britain and the EU fail to come to a withdrawal agreement.
EU Bank Allocates Billions to Global “Climate Action”

February 06, 2019

In a recent press release, the European Investment Bank touts its successful navigation of a “politically difficult environment” in 2018, involving the increased popularity of “parochial nationalism,” to deliver hundreds of billions in global investments, with nearly 30 percent of its financing aimed at combating climate change.
EU Plans Emergency Aid for Farmers in Case of No-Deal Brexit

February 05, 2019

Showing the ramp-up in EU plans to accommodate a no-deal Brexit, Reuters reports that the European Commission (EC) has agreed to pay out million of euros in emergency aid to Irish farmers in case the UK leaves the bloc without a deal to compensate them for a potentially sharp reduction in prices.
Flanders Seeks EU “Guarantee Fund” in Case of No-Deal Brexit

February 05, 2019

Highlighting the potential pitfalls for EU countries in permitting the UK to withdraw from the bloc without a deal, Politico reports that the Belgian region of Flanders is calling for the EU to provide emergency financial assistance to regions that are economically close to the UK in case of such a no-deal Brexit.
EU Leaders Reject Renegotiation of Brexit Deal

February 05, 2019

The Guardian reports that European Council President Donald Tusk is among EU leaders who have rejected UK Prime Minister Theresa May’s calls to reopen negotiation of a Brexit withdrawal deal after a vote by the British Parliament indicated the body’s support in favor of altering the agreement’s “backstop” provision on Northern Ireland.
Committee Aims to Ease British Travel to EU After Brexit

February 05, 2019

Reuters reports that an EU parliamentary committee has unanimously approved a measure that would permit UK citizens to travel throughout the EU without a visa in the case of a “no-deal” British withdrawal from the bloc, highlighting how UK and EU leaders are limiting fallout from a potential failure to strike a Brexit deal.
Irish Official: EU Will Refuse to Negotiate Brexit “Backstop”

February 04, 2019

The Guardian reports that Irish Foreign Minister Simon Coveney has warned UK Prime Minister Theresa May that the Irish government and the EU will not renegotiate the “backstop” provision in the EU-UK withdrawal deal that would keep Northern Ireland within EU structures.
EU Chief Raises Customs Union as Alternative to Brexit Backstop

January 31, 2019

The Guardian reports that European Commission President Jean-Claude Juncker informed UK Prime Minister Theresa May that the price of revisiting a provision in the EU-UK withdrawal deal aimed at avoiding border checks in Ireland would be agreeing to form a customs union with the EU.