Analysis & Blogs
The imposition of rules of origin on trade between the EU and the UK is often poorly understood as an important factor in managing the impact of a UK exit from the EU. While it is generally expected that the UK and the EU will ultimately trade with each other on a largely or completely tariff-...
Sunday’s result of the SPD membership vote has been welcomed across Europe. Many, from Paris to Rome and Madrid, are relieved that the SPD will be part of the next government (and the FDP in opposition). What makes Social Democrats so attractive is their commitment to ‘more Europe’ and eurozone reform, and their openness to put additional German money on the table to achieve it. The prospect of greater risk sharing in the eurozone has helped lift the euro in recent months. The hope is that Europe will benefit from both, more German money and Germany’s reputation as a sound fiscal manager. A closer look at the grand coalition agreement however calls into question whether it can deliver both.
Sustainable finance refers to a financial service that incorporates environmental, social and governance (ESG) factors into business and investment decision-making.While market-driven initiatives currently set the metrics for this area, its uptake by financial regulators has been slow. In the...
Inequalities are increasing amongst people in Europe and the US; this is having a profound impact on politics, creating resentments and instability; and this is impacting the way in which policymakers see China. It is putting trade and investment relations with China under closer scrutiny. This...
Recent years have seen important global shifts in both the policy frameworks for screening inward foreign investment and the way in which they are applied. These shifts come against a backdrop of protectionist political rhetoric and anxieties about the impact of foreign direct investment (FDI)...
The Institute for Government’s model of managed divergence for the UK and EU economies has been influential in shaping the UK government’s position. It’s an ingenious attempt to address some of the thorniest economic and political challenges presented by Brexit. But while it may provide a basis for the UK cabinet ministers to bridge their differences, it is unlikely to be acceptable to the EU, now or in the future.
All eyes in the tech community in Europe and beyond are fixed on 25th May 2018 when the EU’s General Data Protection Agreement (GDPR) finally enters into force. But many are misunderstanding what is driving the agenda here - focusing on the apparent loathing of big tech in Brussels when, in truth, the European Commission is driven more by fear of failure.
Supporting Europe’s Economies and Citizens - A modern approach to financial services in an EU-UK Trade Agreement
In September 2017, Global Counsel and Clifford Chance published with UK Finance a detailed set of proposals for the financial services content of a possible future EU-UK FTA.
The proposals offered a possible answer to the difficult question of how the EU and the UK might preserve some...
Just under a month following his first attendance before the European Council, Poland’s new Prime Minister, Mateusz Morawiecki, has piqued Brussels’ interest in his young premiership with a major cabinet reshuffle. The move targets the most hard-line, nationalist ministers with portfolios core to the EU’s agenda.
One of the clichés in international cooperation is that national governments’ enthusiasm for sharing cost centres evaporates when talk turns to sharing profit centres. This explains the imbalance between joint investment in basic research and national commercial application of R&D, or the discrepancy between joint telecoms standards and ruthless national auctions for mobile phone spectrum.
Speaking at the One Planet Summit in Paris last week, EU Vice-President Valdis Dombrovskis proposed a “major revamp of financial supervision” to accelerate Europe’s transition to a low-carbon economy. The European Council supported these plans in Brussels last Thursday, including “pending legislative proposals” to “fully implement” Paris Agreement targets.
Over the summer, it looked as if there might be a breakthrough in the long-stalled discussions over eurozone reform. Emmanuel Macron had been elected president of France, promising to overhaul the domestic labour market and make the country more economically competitive. German Chancellor Angela Merkel was quick to spot the signal and the opportunity.
The last few months have seen a growing awareness of the challenge facing both the EU and the UK in adapting their customs processing systems for the reimposition of a hard border between the two sides once they are no...
Over Summer 2017, EY and Global Counsel collaborated on a project reviewing the challenges posed for UK boards and managers by political populism. EY have just published some of these reflections as part of their regular Corporate Governance Latest Insights Series.
The biggest remaining unknown of Putin’s next six-year term in office is whether he is going to use it as a ‘window of opportunity’ for structural political and economic reforms.
One of the most contested issues, before and since the referendum on UK membership of the EU, has been the potential impact of Brexit on the UK economy. The exercise is almost as difficult now as it was before the referendum, because we still don’t know what Brexit will mean for the UK’s trading relationships, or the regulatory environment in Britain, two issues that will have a significant bearing on the long-term economic consequences.
Complex, arcane and underperforming, the EU Emissions Trading Scheme has emerged as Brexit’s unlikely first billion euro problem. Superficially, the challenge is a technical one; how to manage the uncertainty over what...
After the withdrawal of the liberal FDP from coalition negotiations, German politics is faced with a similar dilemma to Spain in 2015-2016: an inconclusive set of elections, the unwillingness of the centre-left to support the incumbent centre-right Prime Minister, and ultimately the possibility of another set of elections.
Last Sunday’s regional elections in Sicily were the last major electoral test ahead of Italy’s general elections next spring, and they do not bode well for the Five Star Movement. The party had high hopes of winning the contest, in a region that saw the party’s best results in the 2013 general elections.
The baseline for the trade relationship after a no-deal Brexit would be WTO rules. In practice – and depending on the political atmosphere – there would at least be some enhancements to this baseline in the form of bilateral agreements between the EU and the UK on specific issues that are...
The parliamentary elections in Czech Republic last weekend produced an unsettling but not unexpected result. The question now is how this result could affect the relations between Prague and Brussels, and whether Czechia is set to move even closer to its Visegrád Group neighbours, such as Poland and Hungary, in its animosity towards migrants, adoption of the euro and deeper European integration in general?
Brexit was conspicuous by its absence in the German election campaign. Migration, Islam and relations with Turkey dominated the only TV debate in early September. Relations with the second largest European economy were not even mentioned once. The EU itself also hardly figured in the campaign, beyond the usual vague commitments to the union, and having more of it.
Prime Minister Theresa May restarted the UK energy bills debate last week, announcing a draft Energy Bill which would allow Ofgem – the UK national energy regulator – to cap household energy bills in the form of the time-limited introduction of a ‘safeguard tariff’.
News this week that the EU and the UK have agreed on a methodology for dividing current farm trade quotas between them was expected at some point. These ‘TRQs’ are in effect a piece of EU property that the two sides needed to agree how to divide.
Roberto is a Senior Associate in Global Counsel’s Europe team. He has worked in the European Parliament in Brussels, as a researcher on climate and security policy for a European foreign policy think tank in Madrid, and in the EU delegation in Bangkok.