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EU Rule Would Stymie US Bank Operations
December 07, 2016
The Irish Times reports that American banks are warning that US law on separating investment banking from retail and commercial activities would make it impossible for them to comply with a late amendment to an EU banking regulation package requiring them to combine all operations under a single holding company.
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ECB Official Seeks Deeper EU Financial Integration
December 07, 2016
In remarks to the Economic and Monetary Union (EMU) Forum 2016, Peter Praet, a Member of the Executive Board of the European Central Bank, called for safeguarding the EMU by expanding financial integration in the eurozone, centralizing cross-border bank supervision and risk sharing, and centralizing the development of fiscal rules throughout the bloc.
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UK Plans Ratification of EU Patent System
December 07, 2016
The British Government has announced plans to ratify an EU scheme to set up a Unified Patent Court, with a division in London, to decide disputes over European inventions prior to the country's exit from the bloc.
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UK Announces Pre-Brexit Talks on Trade with Norway
December 07, 2016
British Ambassador to Norway Sarah Gillett has announced that the two countries will engage in a "trade policy dialogue" beginning in December 2016 to discuss their trade relations following the UK's exit from the EU.
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Merkel Rejects UK Plan to Protect EU Expats
December 07, 2016
Politico reports that German Chancellor Angela Merkel has rejected an offer from UK Prime Minister Theresa May on a provisional deal to protect the rights of UK and EU expats living in each other's territory, reflecting the sense of EU leaders that the bloc will be able to draw more concessions out of UK negotiators after the Brexit process is triggered.
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