Finance & Trade

May Pushes for Inclusion of Financial Sector in EU Trade Deal

March 30, 2018

Reuters reports that UK Prime Minister Theresa May has made clear that she wishes the financial-services sector to be included in any post-Brexit free-trade deal with the EU, despite negative responses to this proposal from EU negotiators.
EU Brexit Adviser Rejects UK's Trade Approach

March 30, 2018

The Guardian reports that Stefaan de Rynck, the main adviser to the EU's chief Brexit negotiator Michel Barnier, has opposed UK Prime Minister Theresa May's preferred approach of mutual recognition of standards in a wide-ranging free-trade deal with the EU, stating that the bloc has moved away from this model toward a "single EU rule book" following the financial crisis.
EU Members Oppose Centralization of Euro Authority

March 29, 2018

EUobserver reports that finance ministers from eight EU member states have published a paper opposing French plans to grant broad authority to EU institutions to bail out eurozone members and banks, asserting that "far-reaching transfers of competence to the European level" could undermine trust in the euro project in the wake of the financial crisis.
EU Official Calls for UK to Stay in Bloc's Customs Union

March 28, 2018

The Guardian reports that the European Commissioner for Agriculture and Rural Development, Phil Hogan from Ireland, has called on the British government to drop its opposition to remaining in a customs union with the EU after Brexit, asserting that such a concession would be the only way for a successful resolution of negotiations over Britain's border with Ireland.
Cleppe: EU Cannot Justify Rigidity in Trade Talks with UK

March 27, 2018

Pieter Cleppe of the think tank Open Europe argues that EU officials are responding to reasonable proposals from UK Prime Minister Theresa May on opening up specific sectors to the EU in a broad, post-Brexit free-trade deal with a "rigidity" that cannot be justified given the EU's relative flexibility in trade arrangements with countries like Switzerland.
May Calls for Ambitious Trade Deal with EU

March 27, 2018

In a recent speech in London, UK Prime Minister Theresa May called for the agreement of a free-trade deal between Britain and the EU "covering more sectors and co-operating more fully” than any other trade deal across the globe.
Academic: Brexit Must Mean Leaving EU Customs Union

March 22, 2018

Professor Vernon Bogdanor of King's College London writes that remaining part of a customs union with the EU while not being a member of the bloc is not a viable option for Britain.
Former EU Official: UK Must Make Choice on Financial Rules

March 20, 2018

Former European Commissioner for finance, UK peer Jonathan Hill writes that the UK must abandon the negotiation of impossible terms of financial "access" with EU officials and must instead spell out the choice between taking rules from the EU, with access to its markets, and having the final say over financial rules, with short-term market disruption.
EP Brexit Chief Denies Special Financial-Services Deal

March 19, 2018

City A.M. reports that the European Parliament's (EP) designated Brexit chief, Guy Verhofstadt, has warned the UK that EU negotiators will not accept a "bespoke" deal on financial services permitting "passporting" rights to British financial companies wishing to operate across the bloc.
EU Officials Reject UK Approach to Post-Brexit Trade

March 09, 2018

The Guardian reports that, prior to UK Prime Minister Theresa May's recent cabinet meeting to agree a "three baskets" approach to post-Brexit trade with the EU, involving regulatory harmonization with the EU in some areas and divergence in others, EU officials rejected the approach as inconsistent with the political vision of the EU project.