Brexit News

15 May
Brexit News, Chapter News

ECB | The impact of Brexit on UK trade and labour markets

1 Introduction It has been almost two and a half years since the United Kingdom signed its post-Brexit trade deal with the European Union (EU), which was expected to have multifaceted impacts on the UK economy. The EU-UK Trade and Cooperation Agreement (TCA) was signed on 30 December 2020 and came into effect provisionally on 1 January 2021. Leaving the EU’s Single Market and the EU Customs Union represented a profound change in the economic relationship. This change was expected...

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02 May
Brexit News, Chapter News

FSB Statement to encourage final preparations for the USD LIBOR transition

The finish line for US dollar (USD) LIBOR transition at end-June 2023 is now less than three months away. There has been significant progress made to date, and market participants must continue to act in order to ensure an orderly transition and to support the foundations necessary for a sustainable and stable financial system going forward. Given the limited time ahead, the FSB stresses that it is critical that market participants act expeditiously to ensure that their legacy contracts...

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16 Mar
Brexit News, Member News

OCO Global | ‘Like a light coming on’: N Ireland business hails Brexit trade deal

Northern Ireland has long been one of the most under-invested regions of the UK. OCO Global's Executive Chairman Mark O’Connell speaks with Financial Times on the ‘transformative opportunity’ the Windsor Framework can provide. Full article HERE. Compliments of OCO Global - a member of the EACCNY.

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03 Mar
Brexit News

Vulcan Insight | The Windsor Framework – a “Decisive Breakthrough”

After months of negotiations and weeks of rumours that the EU and UK were on the brink of a deal, Commission President, Ursula von der Leyen and UK Prime Minister, Rishi Sunak, announced this week that an agreement “in principle” on the Northern Ireland Protocol had been reached. Following weeks of technical talks, which were kept very secretive with no leaks emerging ahead of the announcement, the so-called “Windsor Framework” was announced on 27 February. The newly announced Windsor Framework, which has been agreed...

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02 Mar
Brexit News, Chapter News

A new way forward on the Protocol on Ireland/Northern Ireland: political agreement in principle on the Windsor Framework

Today, the European Commission and the Government of the United Kingdom reached a political agreement in principle on the Windsor Framework. This constitutes a comprehensive set of joint solutions aimed at addressing, in a definitive way, the practical challenges faced by citizens and businesses in Northern Ireland, thereby providing them with lasting certainty and predictability. The joint solutions cover, amongst other things, new arrangements on customs, agri-food, medicines, VAT and excise, as well as specific instruments designed to ensure that...

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28 Feb
Brexit News, Member News

BBGFX | Potential Brexit Breakthrough Helps Sterling, while France and Spain Report Stronger Price Pressures

Overview: There are two important developments. First, the stronger than expected February inflation reports from France and Spain have sparked a jump in European interest rates and the swaps market is beginning to price in a 4% terminal rate by the European Central Bank. The deposit rate is now at 2.50% and is widely expected to rise to 3.0% in the middle of next month. Second, a tentative agreement to resolve the dispute over the Northern Ireland protocol has...

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13 Jan
Brexit News, Member News

Vulcan Insight | EU and UK strike a deal on trade data in sign of improved relations

Some progress was made in EU-UK relations this week as both sides came to an agreement on EU access to UK IT systems governing the movement of goods from Great Britain to Northern Ireland. Many have welcomed the move as a significant development in ongoing talks over the Northern Ireland Protocol and has provided some hope that further progress can be made ahead of the 25th anniversary of the Good Friday Peace Agreement in April. The agreement was announced following a...

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22 Jul
Brexit News, Chapter News

Protocol on Ireland/Northern Ireland: EU Commission launches four new infringement procedures against the UK

The European Commission has today launched four new infringement procedures against the United Kingdom for not complying with significant parts of the Protocol on Ireland / Northern Ireland. They come in addition to the infringement procedures launched on 15 June 2022. Despite repeated calls by the European Parliament, the 27 EU Member States and the European Commission to implement the Protocol, the UK government has failed to do so. In a spirit of constructive cooperation, the Commission refrained from launching certain...

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30 Jun
Brexit News, Member News

Steptoe & Johnson | Divergence or Re-brand? The UK Government Reveals More Information about its Proposals for a New Data Protection Regime Post-Brexit

On June 17, 2022, the United Kingdom (UK) government published its response to its consultation on reforms to the UK’s data protection laws. In effect, the response describes the extent to which the UK government intends to deviate from the General Data Protection Regulation (GDPR) in a post-Brexit world. In summary, rather than radical divergence from the GDPR, the proposals largely move the focus from process to outcomes. While the changes may not be radical, they inevitably add to...

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21 Jun
Brexit News, Member News

A&L Goodbody | Bordering on the insurmountable: NI protocol hangs in the balance

This article was first published in the Sunday Business Post, Sunday 12 June 2022 | Tensions rise as many believe legislation being prepared by Britain to unilaterally scrap parts of the Northern Ireland protocol will cause more problems than it solves. “Please don’t go there,” was the message Simon Coveney told reporters that he wanted to send to the British government last week. The Minister for Foreign Affairs was referring to a bill which will reportedly pave the way for the British...

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