EU policies

[field_auth], 22 August 2016

It has been suggested that the vote for Brexit marks the first step of disintegration in Europe. This column argues that if the European integration process is pursued wisely, it still carries the promise of enduring peace and growing prosperity. But EU policymakers must devise a process of integration that strengthens Europe’s competitiveness to such an extent that the advantages of EU membership are clear to member states’ citizens.

[field_auth], 09 August 2016

The Brexit vote has created particular uncertainty for London, the EU’s largest financial centre. This column looks at the issues facing the UK’s banking sector in the wake of the referendum: the right to conduct cross-border activity in the EU in future, the impact on flexible recruitment in London, the possibility of diverging UK and EU regulation, and the effect on bank profitability more widely across Europe.

[field_auth], 09 August 2016

Financial market infrastructures (FMIs) are the backbone of the financial system. Although steps have been taken to make it less likely, if an FMI were to fail it could have catastrophic consequences for financial markets and the economy at large. This column introduces four recommendations from the CEPS Resolution Taskforce for policymakers in case of such an event, based on coordination, timeliness, and remedying the impediments to FMI resolvability.

[field_auth], 08 August 2016

Would losing passporting really be a crisis for the City? Or could the finance sector find a way around newly-imposed restrictions? Bob Denham (Econ Films) asks Patricia Jackson (Atom, Ernst & Young) about the attractiveness of London, the likelihood of a mass exodus and the future of British finance.

[field_auth], 06 August 2016

Several models exist for the UK's relationship with the EU following Brexit. This column argues that from an economic perspective, joining the European Economic Area and retaining access to the Single Market is the best available option. However, given the importance the new UK government – and at least part of the UK public – attaches to imposing controls on immigration from the EU, this option may not be politically viable. The question the UK must address as it debates the aftermath of Brexit is whether the costs of the alternative are a price worth paying.

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