European Union

The EU's Draft Brexit Guidelines Look Anything But Punitive

European Council President Donald Tusk is a man of his word. He promised he would have a first draft of the Brexit negotiating guidelines for the 27 remaining EU member states ready within 48 hours from the moment the UK triggered the Article 50 exit mechanism – and he delivered. Overall, the document reads as anything but punitive.

Frontrunning: March 31

  • GOP disarray deepens (Reuters)
  • Zuma's Night of Long Knives Risks ANC Split, Credit Rating (BBG)
  • China downplays tensions with U.S. ahead of summit (Reuters)
  • Wall Street’s New Favorite Way to Swap Secrets Is Against the Rules (BBG)
  • EU offers Brexit trade talks, sets tough transition terms (Reuters)

EU Chief Threatens Trump For Supporting Brexit; Vows To "Promote" Break Up Of U.S.

"A lot of people would like it that way.  Even people on another continent where the newly elected U.S. President was happy that the Brexit was taking place and has asked other countries to do the same.  And, if he goes on like that, I am going to promote the indenpendence of Ohio and Austin, Texas in the United States of America."

Frontrunning: March 30

  • Trump’s Border Wall: A Tall Order (WSJ)
  • Trump’s Hope for Rapid Reset With Russia Fades (WSJ)
  • China's Xi to meet Trump in Florida next week (Reuters)
  • U.S. Softens Call for Shift on Nafta (WSJ)
  • ESPN Has Seen the Future of TV and They’re Not Really Into It (BBG)
  • Inside the Leadership Shakeup at Merrill Lynch (BBG)

After Brexit, 9 Reasons To Be Bullish On Great Britain

Today Mrs. May finally officially announced Brexit and kicked-off the process of divorce from the EU. A disaster for Britain, according to officials in Brussels, Berlin and Paris. Really? Whenever there is broad consensus it is worthwhile to challenge it.

Banks To London Employees: "Don't Panic"

With Brexit officially a go, banks in Britain are scrambling to undo months of verbal damage, and reassure their London employees over possible Brexit disruptions, a potential shift in jobs to continental Europe, and also talking down warnings made in recent months about leaving the City, some in now dashed hopes of getting a Brexit revote.

Frontrunning: March 29

  • British PM May fires starting gun on Brexit (Reuters); Britain Starts ‘Historic’ Brexit Process (BBG)
  • Firms stack up Brexit warnings as May triggers divorce talks (Reuters)
  • Huge range of sterling forecasts clouds horizon for Brexit talks (Reuters)
  • Merger of Deutsche Börse and LSE Blocked by EU Regulator (WSJ)
  • After crippling cost overruns, Toshiba's Westinghouse files for bankruptcy (Reuters)

Global Stocks, S&P Futures Little Changed On Brexit Day

Brexit day has finally arrived, and despite this major "risk event", European and Asian stocks are trading mixed, while S&P futures are just fractionally lower as a bounce on optimism over the American economy appears to have fizzled and President Trump continues to struggle to pass his legislative agenda. The pound first dipped then rose as the U.K. is set to begin its life outside the EU. 

Giulio Meotti: Islam, Not Christianity, Is Saturating Europe

Everywhere, Europeans see signs of fracture. Jihadists seem to be leading an assault against freedom and against secular democracies. Fears occupy the collective imagination of Europeans. A survey of more than 10,000 people from ten different European countries has revealed increasing public opposition to Muslim immigration.