Finance & Trade

EU Bodies Agree €873 in Clean Energy Finance

February 02, 2018

The Council of the EU has adopted a European Commission proposal to invest €873 million in "clean energy infrastructure" through the bloc's Connecting Europe Facility, with the ultimate aim of creating an interconnected and centralized EU Energy Union based on the global agenda on combating climate change.
Official: Britain Must Follow EU Customs Rules During "Transition"

January 30, 2018

Business Insider reports that the UK's Brexit Secretary David Davis has acknowledged that, under the terms of the post-Brexit transition deal his government is negotiating with the EU, Britain would remain a member of the EU Customs Union until the year 2021, meaning the country will not be able to implement trade deals with other jurisdictions before that time.
EU Convenes High-Level Group on Achieving SDGs

January 17, 2018

The European Commission's "high-level" platform of nongovernmental organizations, academics, businesses, and others formed to recommend the path toward achieving the UN Sustainable Development Goals (SDGs) at the EU level assembled for the first time last week to discuss, among other things, how to "mainstream" the SDGs in the EU's financial strategy.
French Official Seeks Ambition in EU Banking Union Plans

January 17, 2018

Reuters reports that French Finance Minister Bruno Le Maire has called on EU leaders to finalize new steps toward completing the EU banking union, including by introducing new financial regulations and harmonizing tax rules across the eurozone, by the beginning of the year 2019.
NGO Director: UK Must Not Remain in EU Customs Union

January 16, 2018

Henry Newman of British think tank Open Europe writes that a decision by the UK to remain in the EU's customs union after Brexit, with no ability to guide EU trade policy and no option to strike trade deals with non-EU countries around the world, would be a "disastrous" choice for the country.
Cleppe: EU Must Reduce Spending After Brexit

January 11, 2018

Pieter Cleppe of the think tank Open Europe writes that European President Jean-Claude Juncker's push to increase the EU budget after the exit of Britain from the bloc will only heighten euroskeptic concerns about the EU's "excessive spending programs" and "burdensome overregulation" and will continue to strike at the reputation of the supranational organization.
Swiss President Supports Vote on Future EU Relations

January 09, 2018

Reuters reports that Swiss President Doris Leuthard has suggested a "fundamental referendum" to clarify the direction of Switzerland's future relations with the EU and whether to pursue a "framework treaty" with the bloc would be helpful.
Swiss President Criticizes EU "Discrimination" on Stock Exchanges

January 09, 2018

Bloomberg reports that Swiss President Doris Leuthard recently accused the EU of discriminating against Switzerland by only granting the country's stock exchanges temporary access to EU markets, finding that the supranational organization's decision may be "intended to weaken Switzerland's financial sector."
Officials Plan Broadened EU Oversight of UK Financial Firms

January 09, 2018

Bloomberg reports that, with an eye toward Brexit, the European Commission has proposed new rules to broaden EU oversight of financial firms deemed "systemic," many of which will be UK firms establishing new offices in the EU after Britain leaves the bloc, and to tighten equivalence rules determining whether foreign financial firms may operate within the bloc.
Officials Consider Creation of EU-UK Trade Tribunal

January 08, 2018

The Express reports that UK government officials are considering a proposal to establish a new international tribunal after Brexit to resolve trade disputes between the EU and Britain and replace the authority of the Court of Justice of the EU over the UK.