Past Event

Financial Times/Bruegel European Forum: Where now for the UK and the EU after the vote for Brexit?

Three months after the results of the UK referendum there is still a lot of uncertainty about the future. The Financial Times and Bruegel bring together a panel to discuss the most crucial questions.

Date: October 10, 2016, 12:30 pm Topic: European Macroeconomics & Governance

SUMMARY

See below for video and audio recording

Lionel Barber expressed the view that the Brexit vote was not a vote against globalization in general although direction and the rhetoric in UK politics have changed dramatically against it. James Blitz argued that Brexit supporters underestimate the extent of reduction in trade a hard Brexit would entail and overestimate the degree and speed with which trade deals with third countries can compensate for it. Sylvie Goulard emphasized that any future arrangement with the UK would have to fully respect each of the four freedoms of the EU. She added that the discussion is not specific to Britain, but pertains to a more general debate about the desirable degree of openness in society. She finally wondered whether domestic policy failures and the introduction of the euro contributed to the course of events. Guntram Wolff took the view that the future deal should strike the balance between preserving favourable outcomes for the citizens and respecting each side’s political principles. He agreed on the importance of EU-UK trade for both parties, and thus spoke in favour of maintaining the deep integration of goods and services markets, while reaching a compromise on free movement of workers with the UK, outside of the EU.

In his second intervention, Lionel Barber drew the context for Theresa May’s recent speech at the Conservative Party Conference. He argued that she intended to address Brexit voters’ anxieties and pointed at her tenure as Home Secretary makes her sensitive on security and immigration. Barber concluded that, while whether globalization has peaked in Britain is an open question, certain aspects of it will not be complete. James Blitz agreed that domestic policy shortcomings contributed to the referendum result, adding that May’s post-referendum response has been to advocate a strong state to address them. The problem he sees is an intrinsic contradiction between that domestic policy vision and the strategy currently pursued, which is limiting the economic resources a strong state would require. Sylvie Goulard also supported the need for a balanced solution but insisted that supranational jurisdiction over the single market should remain a precondition for participation. Guntram Wolff, in turn, made two final points; firstly, he raised the prospect of policy dumping should the UK becomes estranged from the EU. Secondly, he argued that the depreciation of the pound should be seem as a correction, whereby the financial sector is shrinking, driving down the value of the currency and, thus, making British industry more competitive.

Event notes by Konstantinos Efstathiou

AUDIO & VIDEO RECORDINGS


Read Bruegel’s work on Brexit.

Read the Financial Times’ coverage of Brexit.

Schedule

Oct 10, 2016

12.30-13.00

Check in and lunch

13.00-13.45

Panel Discussion

Chair: Maria Demertzis, Deputy Director

Lionel Barber, Editor, Financial Times

James Blitz, Whitehall Editor, Financial Times

Sylvie Goulard, Member of the European Parliament

Guntram B. Wolff, Director

13.45-14.30

Audience Q&A

Chair: Maria Demertzis, Deputy Director

Speakers

Lionel Barber

Editor, Financial Times

James Blitz

Whitehall Editor, Financial Times

Maria Demertzis

Deputy Director

Sylvie Goulard

Member of the European Parliament

Guntram B. Wolff

Director

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Matilda Sevón

matilda.sevon@bruegel.org +32 2 227 4212

Read about event More on this topic

Upcoming Event

Apr
29
12:30

The emerging new geography of financial centers in Europe

What shape is the new financial continent of Europe?

Speakers: Rebecca Christie, Valerie Herzberg, Nicolas Véron and William Wright Topic: Finance & Financial Regulation Location: Bruegel, Rue de la Charité 33, 1210 Brussels
Read about event More on this topic

Past Event

Past Event

Spitzenkandidaten series: Frans Timmermans

The sixth event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European Elections of six parties and is jointly organised by Bruegel and the Financial Times in March and April 2019.

Speakers: Mehreen Khan, André Sapir and Frans Timmermans Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: April 11, 2019
Read about event More on this topic

Past Event

Past Event

Spitzenkandidaten series: Manfred Weber

The fifth event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European Elections of six parties and is jointly organised by Bruegel and the Financial Times in March and April 2019.

Speakers: Anne-Sylvaine Chassany, Manfred Weber and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: April 9, 2019
Read about event More on this topic

Past Event

Past Event

Spitzenkandidaten series: Jan Zahradil

The fourth event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European Elections of six parties and is jointly organised by Bruegel and the Financial Times in March and April 2019.

Speakers: Jim Brunsden, Maria Demertzis and Jan Zahradil Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: April 4, 2019
Read about event More on this topic

Past Event

Past Event

Spitzenkandidaten series: Luis Garicano

The third event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European Elections of six parties and is jointly organised by Bruegel and the Financial Times in March and April 2019.

Speakers: Luis Garicano, Mehreen Khan and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: April 3, 2019
Read about event More on this topic

Past Event

Past Event

Spitzenkandidaten series: Bas Eickhout

The second event in the The Road to Europe - Brussels Briefing Live: Spitzenkandidaten series. The series features the lead candidates for the European Elections of six parties and is jointly organised by Bruegel and the Financial Times in March and April 2019.

Speakers: Bas Eickhout, Guntram B. Wolff and Rochelle Toplensky Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: April 2, 2019
Read article More on this topic

Opinion

Brexit: When in doubt, slow down

Uncertainty over Brexit remains high despite looming deadlines. Here, the authors argue that the UK should take the necessary steps to make time to build consensus around the final shape of Brexit, and that the UK population should be consulted.

By: Maria Demertzis and Nicola Viegi Topic: European Macroeconomics & Governance Date: March 29, 2019
Read article More on this topic More by this author

Blog Post

The shadow of Brexit: Guessing the economic damage to the UK

Under a set of assumptions, this post concludes that UK real income and investment would have been 4% and 6% larger respectively had it not been for the shock of the Brexit referendum result. With somewhat audacious assumptions, the damages already incurred can be scaled up to guess the negative macroeconomic consequence of each of the three possible Brexit outcomes: no-deal, deal or no Brexit.

By: Francesco Papadia Topic: European Macroeconomics & Governance Date: March 21, 2019
Read about event More on this topic

Past Event

Past Event

Rethinking industrial policy in the digital age: challenges for Europe

All-day conference about how the European policy-making will have to adapt to the digital transformation.

Speakers: Philipp-Bastian Brutscher, Teunis Brosens, Maarten Camps, Lise Fuhr, Padmashree Gehl Sampath, Andreas Geiss, Tony Graziano, Mathew Heim, Thorsten Käseberg, Thomas Kramler, Robert Kroplewski, Timothy Lamb, J. Scott Marcus, Philip Marsden, Jan Mischke, Joakim Reiter, Megan Richards, Valentino Rossi, Marietje Schaake, Reinhilde Veugelers, Guntram B. Wolff and Georg Zachmann Topic: Innovation & Competition Policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: March 21, 2019
Read about event More on this topic

Past Event

Past Event

A new climate strategy for the EU

At a pivotal point in time, three major EU sides come together to discuss the future climate strategy.

Speakers: Silke Karcher, Andrei Marcu, Raffaele Mauro Petriccione, Kathleen Van Brempt and Georg Zachmann Topic: Energy & Climate Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: March 19, 2019
Read about event More on this topic

Past Event

Past Event

Law and macroeconomics: legal responses to recessions

This event will feature an academic lecture on the use of law as a macroeconomic tool.

Speakers: Yair Listokin and Maria Demertzis Topic: Global Economics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: March 12, 2019
Read about event More on this topic

Past Event

Past Event

Saving the right to asylum

How to improve the European asylum policy?

Speakers: Karen Mets, Nicolas Bauquet, Marc-Olivier Padis, Elina Ribakova, Jean-Paul Tran Thiet and Guntram B. Wolff Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: March 5, 2019
Load more posts