In the late 1990s and early 2000s, the EU and the US legislated for an online ‘liability exemption’ under which websites and online platforms are broadly not held liable for the content or products that their customers and users upload to their sites. This approach was replicated globally and has been key in allowing user-generated and user-uploaded platforms such as YouTube, eBay and Twitter to grow, flourish and consolidate. It has also been criticised by more traditional media that do not enjoy the same immunity.
Yesterday, the European Council’s Trade Policy Committee gathered for an informal meeting in Tallinn to discuss how to approach the European Commission’s new trade package. The package essentially fleshed out some of the policy details of Commission President Jean Claude Junker’s vision for a more balanced and progressive EU trade policy, set out in his ‘state of the union’ address. In practice, the new policy package also outlined what will be the EU priorities in future FTA negotiations, and can be read as an attempt by the Commission to get its house in order ahead of politically contentious negotiations on a future trading relationship with the UK.
Reforms to the EU’s financial supervisory system proposed this week can be boiled down to two principles: more supervision at the European rather than the national level, and more powers for the EU to keep a closer eye on developments in other jurisdictions.
The Irish border is one of the few Brexit issues for which the positions of the parties to the negotiation are precise and clear. They are also irreconcilable, as things stand.
UK government proposals on cybersecurity in the automotive sector highlight how one unexpected outcome of digitisation could be the introduction of strict corporate governance rules previously unseen outside of the financial services sector.
Putting a monetary value on nature provides a stronger economic case for ambitious environmental policy supported by public and private investment, but it also leaves that value, and the investment case, hanging on politics.
The European Commission-approved resolution of Spanish Banco Popular, initially considered a demonstrable success of the EU’s Single Resolution Mechanism, has come to a predictable head with its investors. A group of bondholders filed suit with the ECJ last week to overturn the ECB’s June decision to resolve the bank due to its “likely to fail” status. The investors argue that the ECB decision was itself material in starving the bank of liquidity.
The British government papers on Brexit published this week leave you wondering if cabinet ministers really understand what the UK is proposing and the implications.
Yesterday, the UK floated a set of ideas for managing the future of the customs frontier between the EU and the UK. They were broadly divided between two proposals: a first, based around some very practical ideas for using technology to streamline the movement of goods across a future EU-UK customs border. The second was a much more radical idea that the UK would offer to implement the EU’s own external border protocols on its behalf as part of a wider approach that would remove any need to process goods moving between the two markets. The first is sensible enough. How serious is the second?
One of the general conclusions from the recent UK general election was that it had marked a dramatic return to two party politics in the UK. Voters provided the Conservatives and the Labour Party with the highest combined share of the vote since the 1970s, at over 82%, and almost 90% of the seats in Parliament. The Conservatives saw their highest vote share since 1983 at the election. Labour surged to over 40% for the first time since 1997.