If the UK cannot secure a ‘Norway’ deal and stay within the internal market, the UK will lose passporting rights for financial services and access to euro clearing and settlement, both of which make London attractive as a financial centre. A substantial part of the UK’s wholesale banking and trading sector may move out.
While the pound sterling has lost a lot of its value right after the Brexit vote, from a historical perspective neither the fall of the exchange rate, nor its current level, is unprecedented. The situation is not as severe as it was in the aftermath the collapse of Lehman Brothers.
The result of the UK referendum to leave the European union will likely impact the UK’s trade with other countries. Our database shows what products EU countries trade with the UK.
The bulk of UK Leave voters come from disadvantaged areas, and perceive immigration as a threat. But significant exceptions to this trend in England and most importantly in Scotland make it hard to draw a simple causal link between wealth, immigration, and voting patterns.
After four days of violent market reactions to the prospects of Brexit, markets have paused and gained in strength slightly. Why has that happened?
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If the UK cannot secure a “Norway” deal and stay within the internal market, the UK will lose the passporting rights which make London attractive as a financial centre. The macroeconomic fall-out from Brexit has also damaged the performance of banks and insurers.
The intermediate and long-term consequences of the UK “Brexit” referendum of 23 June 2016 are numerous and far-reaching. There has been much discussion of the impact on financial services, but very little to date on the likely implications for telecommunications regulation.
Up until the British rebuff on 23 June 2016, the European Union had always been in expansion mode, also known in EU parlance as enlargement. The UK vote to leave the EU marks the first-ever case of this process being reversed.
On 23 June, the UK voted to leave the European Union. What will the UK’s new relationship with the EU look like?
Since the end of 2014, inflation has been at or very close to zero. With very little ability to move the actual interest rate further into negative territory, the ECB has resorted to unconventional measures. The latest of these includes a programme to purchase corporate bonds, which started on 8 June 2016.
The current European fiscal framework is inefficient and relies on indicators that are badly estimated. How can the rules be improved and what can a European fiscal council add to this?
The Blueprint provides a review of the first 18 months of European banking supervision. It reviews the overall situation and the situation in a number of euro-area countries. It provides important insights into the start of a new policy regime that involves profound change for the European banking landscape
Essay / Lecture
In this essay, Jeffry Frieden looks at the process of creating a monetary union in the United States and draws lessons for the EU.
Exposures of banks towards sovereigns and vice-versa may be a source of systemic risk but how far can limiting these exposures in fact enhance or rather jeopardise global stability?
Presentation at the EPP hearing on the “Winter Energy Package” on 29 June 2016.
In the past five days a number of banks have seen their stock value decline by large amounts.
At this event we will welcome Paul Misener, Vice President of Global Public Policy at Amazon.com to discuss innovation and regulation.