1. CONTEXT OF THE PROPOSAL • Reasons for and objectives of the proposal On 29 March 2017, the United Kingdom notified the European Council pursuant to Article 50 of the Treaty on European Union of its intention to withdraw from the European Union and from the European Atomic Energy Community. In accordance with Article 50 of the Treaty on European Union, the Union shall negotiate with the withdrawing State an agreement setting out the arrangements for its withdrawal (the Withdrawal Agreement), taking account of the framework...

Read more

EY today released Geopolitical update: Brexit and US-China relations, which explores how Brexit and the increasing complexity of US-China relations is affecting Chinese enterprises’ overseas investments. Investors from China should pay close attention to the latest policy developments and develop a geostrategy to manage the risks and identify the opportunities amid this growing uncertainty. Jon Shames, EY Global Geostrategic Business Group Leader, said: “While the world has moved into a new and unsettling geopolitical phase, Chinese businesses and investors cannot focus...

Read more

by John Bruton, Former Prime Minister of the Republic of Ireland The European Commission has produced a paper setting out the preparations that will have to make for a “No Deal “ Brexit, and what would have to done to deal with it. I have extracted some of the interesting quotations from it. It is quite explicit in some respects, but those who say there will be no hard border in Ireland in any circumstances will need to seek further...

Read more

Published on 28 November 2018 The results of the Bank of England’s 2018 stress test show the UK banking system is resilient to deep simultaneous recessions in the UK and global economies that are more severe overall than the global financial crisis and that are combined with large falls in asset prices and a separate stress of misconduct costs. Despite facing loss rates consistent with the global financial crisis, the major UK banks’ aggregate CET1 capital ratio after the stress would...

Read more

Thank you, Madame President, Secretary of State, Ladies and gentlemen, Members of the European Parliament, Good morning to each and every one of you and thank you for giving me the opportunity to speak to you on behalf of the European Commission, with an apology on behalf of President Jean-Claude Juncker who is participating in the G20 right now. Madame President, we are at an important and serious moment, 17 months after the beginning of the negotiation that I am honoured to conduct...

Read more