While the euro is now a leading global currency and the European Central Bank has become a comprehensive banking supervisor, Europe’s markets have been treading water. By: Rebecca Christie Date: January 23, 2020 Topic: Finance & Financial Regulation Europeans in the 21st century are used to freely living, working and spending money across borders. But when it comes to banking and investing, their main options are strictly close to home.Despite adopting a common currency and common banking supervision, the 19 countries that make up the euro area have made little progress in joining up their capital markets. For the rest of the European Union, currency differences add to the cross-border barriers. This limits where businesses can seek loans, and where venture capital investors canRead More »
Articles by Rebecca Christie
The head of German Finance has written in the ‘Financial Times’ defending the need to deepen the banking union, now London is about to leave By: Rebecca Christie Date: November 8, 2019 Topic: European Macroeconomics & Governance Germany’s finance minister wrote an op-ed to praise the idea of pan-European deposit insurance, but if this is progress, it’s only the start of the debate.Olaf Scholz wrote in the Financial Times of an “undeniable” need to deepen the euro area banking union. With London on the verge of departure, the European Union will lose its biggest financial hub and come face to face with the shortcomings of its homegrown financial architecture.And Scholz is right that the euro needs true deposit insurance, where a common framework would ensure that up to €100,000 inRead More »
Irish consumers’ interests may not coincide with the needs of banks relocating here.
Europe’s financial centre is splitting up, possibly for the better. Dublin has gained a lot of new business from London’s exodus, becoming the top choice of firms seeking higher ground post-Brexit. Now Ireland must decide whether it wants to be a leader or a counterweight in Europe’s financial future.
With the departure of the UK as the financial industry’s primary voice, the EU will have a chance to redefine how it approaches its banking and capital markets.
Already, debates have begun about making the regulatory framework more centralised or enabling a more regionally diverse and competitive financial sector. Proponents of a homogenous approach argue that a level playing field requires common
How the financial industry and the law firms that support it are preparing for what comes next
Date: June 25, 2019
Topic: European Macroeconomics & Governance
The UK is leaving the European Union, in spirit if not in immediate legal jurisdiction. While the next phase of Brexit won’t emerge until October, the financial sector is already on the move. London, long the dominant hub for bankers and investors, will cede ground to a quartet of cities within the EU core. In turn, London’s lawyers are moving to Dublin, raising questions about how they can work cross-border going forward.
Paris, Frankfurt, Amsterdam and Dublin are the locales with the most to gain overall from the transition, with Luxembourg,