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German Court Upholds ECB Supervision Authority
July 30, 2019
Deutsche Welle reports that the German Federal Constitutional Court has ruled that the authorities granted to the European Central Bank (ECB) to supervise large banks and administer a fund for failing financial institutions comply with EU treaties and with the German Constitution.
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Industry Group: EC Must Do More to Prepare for No-Deal Brexit
July 29, 2019
The Confederation of British Industry has warned that the European Commission (EC) is lagging behind the UK in preparing for a potential no-deal Brexit and is calling on the EC to supplement its currently minimal contingency measures to ensure British businesses will continue to have access to the EU market.
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EU Officials Reject Johnson’s Demands for New Brexit Deal
July 26, 2019
Bloomberg reports that EU officials, including the European Commission’s chief Brexit negotiator Michel Barnier, have refused to accept demands from new UK Prime Minister Boris Johnson to renegotiate the Brexit deal to take out the controversial “Irish backstop” provision.
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Australian PM Seeks Quick Trade Deal with Post-Brexit UK
July 26, 2019
Politico reports that Australian Prime Minister Scott Morrison has said he is ready to strike a trade deal with the UK in a matter of weeks or months after Britain withdraws from the EU customs union.
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EC Proposes Framework for Eurozone Budgetary Instrument
July 25, 2019
The European Commission (EC) has proposed a governance framework for a eurozone Budgetary Instrument for Convergence and Competitiveness that will set priorities for investments and reforms to promote the convergence of the economies within the currency area.
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