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Making the best of Brexit for the EU27 financial system. Bruegel Policy Brief Issue 1 / February 2017

Sapir, André and Schoenmaker, Dirk and Véron, Nicolas. (2017) Making the best of Brexit for the EU27 financial system. Bruegel Policy Brief Issue 1 / February 2017. [Policy Paper]

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    Abstract

    The United Kingdom’s exit from the European Union creates an opportunity for the remaining EU27 to accelerate the development of its financial markets and to increase its resilience against shocks. Equally, Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets. Without the UK, the EU27 must swiftly upgrade its capacity to ensure market integrity and financial stability. Furthermore, losing even partial access to the efficient London financial centre could entail a loss of efficiency for the EU27 economy, especially if financial developments inside the EU27 remain limited and uneven.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > Brexit
    Countries > U.K.
    EU policies and themes > Policies & related activities > economic and financial affairs > banks/financial markets
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 08 Feb 2017 12:15
    Number of Pages: 8
    Last Modified: 08 Feb 2017 12:15
    URI: http://aei.pitt.edu/id/eprint/83987

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