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In the Media

Financial Times | Conservative party Remainers sanguine on UK leaving customs union

5 Feb 2018
|
Regions: 
EU/Eurozone,
UK

Eurosceptics in the UK’s Conservative party were marking an apparent Brexit victory on Monday after Downing Street said that Britain was “categorically leaving the customs union” while considering two options set out in a “future partnership paper” on customs published last August, both of which have significant shortcomings.

Stephen Adams, a former EU trade negotiator now working at Global Counsel, says this would be “technically phenomenally complicated” and it had another big problem: “It would probably be a bigger undertaking for the EU than the UK.”

Al Jazeera English | WEF 2018: The problem with Davos

27 Jan 2018

Davos, a tiny town in the Swiss mountains, has hosted the annual World Economic Forum for the past 46 years. The rich, powerful and famous mingle over sessions and networking with the stated aim of improving the world.

Gregor Irwin, chief economist at Global Counsel, says "there's inequality between countries and within countries... The global economic system is certainly working for some and it has delivered over the past 10 years an improvement in the living standards of many people. But there are real questions about just how widely shared the benefits are."

Financial Times | Fox moves to take trade disputes power from EU

28 Dec 2017
|
Regions: 
EU/Eurozone,
UK,
Asia

Liam Fox, the trade secretary, will legislate next month to take back powers from Brussels to deal with trade disputes, in a move that will force Westminster politicians to grapple with exporters such as China.

“Once British politicians are completely on the hook for these decisions, they will have to think about how they balance the consumer and producer interests in a new way,” said Stephen Adams, a former EU trade official who is now a senior director at Global Counsel, the advisory firm.

Wall Street Journal | European Union finds leading fight for open trade a tough task

28 Dec 2017
|
Regions: 
EU/Eurozone,
Americas

The European Union started this year by announcing a global trade offensive to counter rising U.S. protectionism. Now the bloc faces an uphill battle to prove it can deliver.

“When the EU and the U.S. are not aligned, you have a much more fragmented landscape, with no clear leader, and it’s much harder to drive policy,” said Stephen Adams, a former EU trade official now with U.K.-based advisory firm Global Counsel. “The ambition can leak out of the process very quickly.”

Financial Times | Banks urge Brexit trade deal that keeps financial services on track

16 Nov 2017
|
Regions: 
EU/Eurozone,
UK

Britain’s banking industry has called for a post-Brexit trade deal to allow financial services professionals to continue travelling freely across Europe on assignments of up to three years.

The proposal, coming shortly after David Davis, the Brexit secretary, promised to seek a similar travel regime for bankers, is one of several recommendations in a report to be published on Thursday by UK Finance, the industry body, law firm Clifford Chance and consultants Global Counsel.

City A.M. | Momentum gathers behind mutual recognition to govern City after Brexit as UK Finance publishes second report backing ambitious FTA for financial services

16 Nov 2017
|
Regions: 
EU/Eurozone,
UK

Momentum is gathering behind mutual recognition and a free trade agreement (FTA) as the basis for the City after Brexit, with a second report arguing it is the best possible route.

The blueprint, written by UK Finance with support from law firms Clifford Chance and Global Counsel, argues for a "bold and ambitious" FTA for financial services after leaving the European Union, which will be based on mutual recognition. Our "unparalleled" position of convergence offers the UK and EU an opportunity to create "a robust and flexible market access model", it claims.

Global Trade Review | EU sets sights on Latin American trade deals

1 Nov 2017
|
Regions: 
EU/Eurozone,
Americas

The European Union’s landmark agreement with Cuba entered into force this week, marking a new chapter that aims for increased trade and diplomacy between the EU and the Latin American region.

“The EU-Mercosur deal would send the same signal as the EU-Japan political agreement announced over the summer — that while the US administration draws inwards and retreats from trade liberalisation, the rest of the world forges ahead,” senior trade associate at advisory Global Counsel, Guillaume Ferlettells GTR. 

France 24 | Moment of truth: Spain sets in motion direct rule over Catalonia

19 Oct 2017
|
Region: 
EU/Eurozone

Since 10am on Thursday, Spain has entered unchartered waters. Madrid's deadline for Catalonia's leader to renounce independence has come and gone. The escalation around the staging of that banned October 1st independence referendum is entering a new phase. Global Counsel's Senior Associate Roberto Robles has taken part in a live TV debate on the topic.

 

Global Trade Review | Trade experts dismiss UK joining Nafta as “far-fetched”

11 Oct 2017
|
Regions: 
UK,
Americas

Claims that the UK could join the North American Free Trade Agreement (Nafta) have been dismissed as “far-fetched” by trade policy experts. However, there are a number of issues to consider, according to Daniel Capparelli, trade policy practice lead at Global Counsel advisory.

He tells GTR: “Nafta membership is very unlikely to create substantial market opening in areas where the UK’s competitive and comparative advantage is greatest – such as services and financial services – given its relatively low level of coverage in these areas.”