Question marks over Brexit
No-one can say right now whether Brexit is actually going to happen in the coming year because, on Tuesday, the Advocate General of the CJEU declared that the UK can revoke its Brexit notification without the agreement of the EU. Until that happens, the proposal for an agreement on an orderly withdrawal of the UK from the EU, on which the EU heads of state and government were also able to agree at the end of November, is still on the table. Before she can accept this, Prime Minister May is going to have to wrestle for support in the British Lower House on 11 December. It looks doubtful that she can succeed.
But Brexit is not the only issue that is due to be decided in the next few days. The long-awaited breakthrough on reform of the eurozone is to take place at the EU summit on 14 December after the EU finance ministers also signalled their agreement at a meeting this week. Questions and disagreements remain, however, such as on reform of ESM credit lines. Whether the season of Advent is to be a peaceful one ultimately depends on your perspective.
In any case, I wish you a happy Christmas and look forward to your continued readership and support in the New Year.
Harald Händel
Head of Communications |
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| “New Deal” for Consumers – Part 2: EU Consumer Law |
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| In view of increasing EU-wide violations, the EU-Commission wants to strengthen the enforcement of, and thus improve compliance with, EU consumer protection law. In the context of its “New Deal for Consumers”, it has submitted a corresponding Directive.
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| Derivatives clearing after Brexit |
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| Following Brexit on 29 March 2019, the United Kingdom will become a "third country". Financial and other companies domiciled in the EU will then no longer be able to easily fulfil their obligation to clear derivatives with "central counterparties" (CCPs) in London. In a cepAdhoc, short and medium-term EU priorities for derivatives clearing are analysed.
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| Exemption from SPC Protection for Medicines |
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By way of an exemption from protection certificates, the EU wants to permit the manufacture of generics and so-called biosimilars for export, even where the original medicine is still protected by a certificate in the EU. Using this exemption, it wants to remedy competitive disadvantages for EU manufacturers and strengthen its generics and biosimilars industry.
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| The safety of road vehicles as well as vehicle occupants, pedestrians and two-wheel vehicles in the EU is to be improved. For this, the EU Commission proposes a range of new technical requirements for motor vehicles as of 2024. These include the obligation to equip new vehicles with assistance systems.
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"The people of Europe have had enough of the babble from Brussels."
Bruno Le Maire, French Minister for the Economy and Finance |
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"Having relinquished her position as chair of the CDU, the Chancellor will hardly be able to convince the world that she can still be the guarantor of stability in the EU."
Prof. Lüder Gerken, cep President |
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"We must create confidence in our currency in order to strengthen it."
Sylvie Goulard, Deputy Governor of the Banque de France |
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"For stability in the eurozone, it is not money that is required but a realisation among national governments that they need to get their budgets in order and carry out necessary structural reforms."
Dr. Matthias Kullas, cep Head of Division, on the proposal to establish a eurozone budget |
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Facts
In preparation for Brexit, Germany is to create 330 new jobs for customs officers in the coming year, particularly for checks at ports and airports. This is included in the draft budget for 2019 which provides for more than 800 new jobs in customs administration as a whole. |
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