Implications of Brexit on EU Financial Services
This study addresses the implications and economic impact of several scenarios of the UK leaving the EU in relation to financial services, ranging from a ‘hard Brexit’ without any arrangements concerning financial services to the current state of affairs under the terms of a full EU membership. Special focus is put on a peculiar variation of ‘hard Brexit’, which are the third-country regimes in the current EU secondary legal framework that allow partial access to the EU single market based on ‘equivalence’ on the basis of decisions by the European Commission or national authorities. The study presents these regimes and the extent to which they were already used in the past. The economic analysis looks at three variations of ‘hard Brexit’ (one, in which the access to the single market is closed, one with partial access based on equivalence and one, in which the City of London is transformed into an ‘offshore financial centre’) and at the scenario, in which the UK joins the EEA. The economic assessment is based on the current state of affairs in relation to the interwovenness of financial services in the EU28 including a closer look at the importance of UK-based clearing of Euro denominated trades.
Проучване
Външен автор
European Research Centre for Economic and Financial Governance (EURO-CEFG), Prof. Casper De Vries et al.
Относно настоящия документ
Вид публикация
Област на политиките
Ключова дума
- банкова политика
- БИЗНЕС И КОНКУРЕНЦИЯ
- Великобритания
- ГЕОГРАФИЯ
- Европа
- Европейска икономическа зона
- Европейски банков орган
- европейски договори
- ЕВРОПЕЙСКИ СЪЮЗ
- единен пазар
- изграждане на Европа
- икономическа география
- институции на ЕС и европейска публична служба
- кредитна институция
- кредитна оценка
- кредитни и финансови институции
- международна политика
- международна търговия
- МЕЖДУНАРОДНИ ОРГАНИЗАЦИИ
- МЕЖДУНАРОДНИ ОТНОШЕНИЯ
- международни преговори
- организация на работата
- оттегляне от ЕС
- политика на сътрудничество
- политическа география
- право на Европейския съюз
- Световна търговска организация
- световни организации
- складиране
- трета държава
- ТЪРГОВИЯ
- търговско споразумение
- ФИНАНСИ
- финансови услуги