Finance & Trade

Barnier Rejects UK Solutions on Irish Border

May 24, 2018

The Guardian reports that the European Commission's top Brexit negotiator Michel Barnier recently rejected two proposals from the UK aimed at preventing cumbersome customs checks along the border between Ireland and Northern Ireland, claiming the EU would not accept British "cherry picking" in maintaining some commitments to EU rules while eschewing others.
EC Turns up Pressure for Bank Capitalization Rules

May 15, 2018

Reuters reports that the European Commission (EC) is pushing for the advancement of new bank capitalization rules before European parliamentary elections next year, in a push to further the bloc's plans for an EU Banking Union even as the international Basel Committee is moving toward a deal on new capitalization rules that could make the EU rules obsolete.
Expert Lists Viable Options for Post-Brexit UK-Irish Trade

April 26, 2018

Shanker Singham of the Institute of Economic Affairs explains a variety of options available to British, Irish, and EU policymakers in avoiding a "hard" border on the island of Ireland after Brexit and writes that there is no reason, aside from lack of political will, that negotiators cannot agree an acceptable arrangement on the issue.
EU Offers UK "Improved Equivalence" Deal for Banks

April 25, 2018

Bloomberg reports that the vague wording of a recent EU negotiating document offering the UK the status of "improved equivalence" to allow its financial services industry access to the EU market after Brexit signals a split among EU member states regarding their desired treatment of British banks.
EU Officials Green-light UK Trade Talks During Transition

April 24, 2018

The Express reports that, in a recent round of UK-EU negotiations over Britain's withdrawal from the EU and future trade between the jurisdictions, EU officials agreed to permit Britain to sign - but not implement - trade deals with other countries during a post-Brexit transition period when the UK would still be bound by EU regulations.
Barnier Rejects UK Approach to Post-Brexit Trade Deal

April 23, 2018

Bloomberg reports that the European Commission's chief Brexit negotiator Michel Barnier has rejected the major points of UK Prime Minister Theresa May's plan for a UK-EU trade deal after Brexit, indicating the EU needs legal commitments from Britain to maintain EU regulatory standards in all areas to secure a wide-ranging trade agreement.
EC Works Toward Pre-Brexit Capital Markets Union

April 19, 2018

Reuters reports that the European Commission (EC) is working to advance, prior to Brexit, its plans for a Capital Markets Union with a single set of capital market rules applicable across the EU, including by recently announcing a proposal for common rules for the European covered bonds market.
UK Official Pushes for EU Deal on Financial Services

April 17, 2018

UK Chancellor of the Exchequer Philip Hammond has warned that the British Government could reject any post-Brexit trade deal that does not include provisions for access to financial services, asserting that excluding this area would not result in a "fair and balanced deal."
UK Lawmaker Sets out Basis for EU Customs Union Exit

April 10, 2018

UK Member of Parliament Craig Mackinlay writes that accepting a customs union with the EU would "lead to a total loss of international trade policy" for Britain and calls for reliance on World Trade Organization rules rather than compliance with EU common market regulations as the best way to regain sovereignty and trade on the world stage.
Australia Plans for Post-Brexit Trade Deal with UK

April 09, 2018

Emphasizing the benefits of a "sovereign, open and free" Britain, Australian Trade and Investment Minister Steven Ciobo has announced plans to sign a free trade deal with the UK immediately after the Brexit process concludes.