Brexit: What you need to know about the process, timeline and challenges along the way
The European American Chamber of Commerce hosted a discussion about the Brexit process, the regulatory challenges the UK Prime Minister will be facing and challenges on the side of the EU Commission and Brexit Negotiator Michael Barnier and his team.
The looming Brexit negotiations will assuredly change the dynamics of doing business in Britain, the rest of Europe, and the United States. Britain is Europe’s second largest economy after Germany, and is home to various European Union institutions such as the European Medicines Authority and the European Banking Authority, both headquartered in London.
Britain is Europe’s financial services and banking capital, with over 300 global financial services headquartered in the city of London. Britain is one the United States’ largest trading partners with export flows of approximately $ 53 billion annually, and heavily reliant on trade flow to the European Union with exports amounting to approximately $230 Billion from Britain the EU annually. This creates surmounting levels of uncertainty on what the futures of these economic relationships will be, given Brexit.
The panel was comprised of John Bruton, Former Irish Prime Minister and former EU Ambassador to the United States and Mary Snow, Broadcast Journalist & former correspondent for CNN’s “The Situation Room With Wolf Blitzer”[Moderator]
The two addressed the Brexit process and timelines/deadlines and likely scenarios (Norway, Switzerland or others) for the way forward.
This program also kicked off the EACC’s Brexit Series. The series will include seminars developed by our Brexit Working Group to help executives like you better understand how Brexit will effect your business. To learn more about other activities we have planned on the subject follow us on twitter with #EACCNYBrexitSeries