Finance & Trade

UK, Switzerland Agree Post-Brexit Trade Deal

January 09, 2019

The UK government and the Swiss Federal Council have agreed, subject to approval by the countries’ parliaments, to implement a transitional free-trade agreement after Brexit that largely replicates the current trade arrangements between the two countries.
EU Official: “No-Deal Brexit” Would Require Germany to Plug Budget Hole

January 08, 2019

Deutsche Welle reports that European Commissioner for the budget Günther Oettinger has warned that Britain’s and the EU’s failure to approve a withdrawal deal would require the German government to pay hundreds of millions of euros extra into the EU budget to cover the funding gap produced by Brexit.
EU Investment Bank Issues “Green Loan” to Spanish Utility

January 08, 2019

In December, the European Investment Bank issued its first “Green Loan,” totaling 335 million euros, to Spanish electric utility company Endesa to fund the construction of 15 wind farms and 3 photovoltaic plants, as the development bank ramps up its efforts to advance the EU’s strategy to combat global warming.
Expert Offers Alternative to Brexit Deal on Irish Border

December 26, 2018

Shanker Singham of the Institute of Economic Affairs offers an alternative to the current “backstop” agreed by the British government and the EU on the Irish border, replacing rules requiring perpetual adherence of the UK to EU trade rules with a “front stop” aimed at securing a long-term free trade agreement on goods and agri-food.
EC Seeks to Promote Euro as Global Currency

December 14, 2018

The European Commission (EC) has published a recommendation pushing for EU institutions to do more to bolster the global role of the euro, particularly in the energy sector, including by providing for further EU financial integration to raise trust in the currency.
EC Pledges Millions in “Sustainability” Funding in Central Asia

December 12, 2018

In November, the European Commission (EC) announced a “sustainable development” cooperation program through which it would provide EUR 124 million in funding for Central Asia to promote economic development and combat global warming.
EU Development Bank Offers “Climate Finance” to Africa

December 12, 2018

The European Investment Bank announced in November a EUR 200 million loan to the African Export-Import Bank, at least 25% of which would be allocated toward “climate action,” mainly renewable energy projects, that advance the goals of the UN’s 2015 Paris climate deal and “sustainable development” agenda.
EIB Launches Global “Green” Investment Program for Cities

December 05, 2018

The European Investment Bank (EIB) recently announced a partnership with the Global Covenant of Mayors for Climate & Energy to help ramp up investments supporting “green projects and programmes” in cities in Africa, Asia, and Latin America to advance the UN’s Paris climate agreement.
Economists: UK Should Leave EU on WTO Terms

December 03, 2018

A British group called Economists for Free Trade recently published a paper arguing that Britain’s exit from the EU without an EU-UK trade deal but relying on World Trade Organization (WTO) rules would be highly advantageous to the UK and would permit the country to immediately benefit from Brexit.
UK Documents Outline Plans in Case of “No Deal” Brexit

September 05, 2018

The British government recently released a set of documents outlining how it plans to respond to a scenario in which UK officials are unable to strike a deal with the EU on a post-Brexit relationship by the time of the country’s withdrawal from the bloc in 2019, as talks over future trade and regulatory relations between the jurisdictions remain stalled.