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171. Brexit and trade: Economic effects of Brexit

Author:
Philip McCann, Alison McGovern, Thomas Sampson, and Evan Davis
Publication Date:
11-2017
Content Type:
Video
Institution:
UK in a Changing Europe, King's College London
Abstract:
Discussion of evidence on implications of alternative scenarios and how the economic consequences might play out over time and across different industries/regions. Speakers: Philip McCann, University of Sheffield Management School Alison McGovern, MP for Wirral South Thomas Sampson, The UK in a Changing Europe Chair: Evan Davis, Newsnight
Topic:
Economics, Brexit, Trade, and Industry
Political Geography:
United Kingdom and Europe

172. Brexit and the Shifting Pillars of NATO

Author:
Julian Lindley-French
Publication Date:
11-2017
Content Type:
Working Paper
Institution:
Canadian Global Affairs Institute (CGAI)
Abstract:
Will Britain’s departure from the EU lead to the creation of an Anglosphere and a Eurosphere within NATO? Unfortunately, there are a range of challenges to such a formulation. First, if the EU continues to drive a hard post-Brexit relationship with the British, it may be increasingly difficult for any government in London to convince the British people that other Europeans are worth defending. Second, would the United States, Canada and others entertain such an idea? Third, France is not going to abandon its strategic relationship with Britain – Brexit or no Brexit. Fourth, there will be a Brexit deal and Britain will remain a key factor in European defence. Fifth, “events, dear boy, events!” However, Brexit or no Brexit, NATO’s pillars are shifting. The United States will demand more of its allies if Washington is to maintain a credible security and defence guarantee for Europe. The changing nature of conflict will tend to emphasize intelligence and power projection, both of which play to Britain’s residual strengths. Canada? It is hard for an outsider to discern Canadian defence policy, other than bumbling along in strategic suburbia with the desire to be seen as the good neighbour. This is a mistake. NATO’s shifting pillars will have profound implications for Canadian security and defence policy. A formal Anglosphere and Eurosphere within NATO? Most likely not. A U.S.-sphere and German-sphere? Quite possibly, but don’t mention it in polite company. Canada? Who knows?
Topic:
Security, Defense Policy, NATO, Brexit, and Alliance
Political Geography:
Britain, Europe, Canada, and North America

173. UK Policy Options and the South Atlantic

Author:
Martin Robson
Publication Date:
12-2017
Content Type:
Journal Article
Journal:
AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:
Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:
This article utilises International Relations role theory to analyse a number of potential roles for the United Kingdom as an actor with vested interests in the South Atlantic. It assesses the contemporary context of the UK’s trading relationship with the South Atlantic in light of the ongoing dialogue between the EU and the UK with regard to BREXIT. It also recognises the strategic realities of the South Atlantic and the UK’s Overseas Territories in the region. It posits that the UK, as a strategic actor in the South Atlantic, is limited in its role choices and that the role of ‘Opportunistic Partner’ in terms of its relationship with Argentina, offers the most scope as the basis for future mutually beneficial trading relations to normalise further political relations between the two countries.
Topic:
Diplomacy, International Trade and Finance, European Union, and Brexit
Political Geography:
Africa, United Kingdom, Europe, South America, and South Atlantic

174. Britain After Brexit: A Nation Divided

Author:
Robert Ford and Matthew Goodwin
Publication Date:
01-2017
Content Type:
Journal Article
Journal:
Journal of Democracy
Institution:
National Endowment for Democracy
Abstract:
On 23 June 2016, the United Kingdom voted by a 52 to 48 margin to leave the European Union. The result of the EU referendum was the latest and most dramatic expression of long-term social changes that have been silently reshaping public opinion, political behavior, and party competition in Britain and Western democracies. In this essay, we consider the underlying social and attitudinal shifts that made “Brexit” and the rise to prominence of the populist, right-wing U.K. Independence Party (UKIP) possible. Finally, we consider what these momentous developments reveal about the state of British politics and society.
Topic:
Nationalism, Regional Cooperation, European Union, and Brexit
Political Geography:
Britain, United Kingdom, and Europe

175. Brexit and the European financial system

Author:
Uuriintuya Batsaikhan, Robert Kalcik, and Dirk Schoenmaker
Publication Date:
02-2017
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
London is an international financial centre, serving European and global clients. A hard Brexit would lead to a partial migration of financial firms from London to the EU27 (EU minus UK) to ensure they can continue to serve their EU27 clients. Four major cities will host most of the new EU27 wholesale markets: Frankfurt, Paris, Dublin and Amsterdam. These cities have far fewer people employed in finance than London. Moreover, they host the European headquarters of fewer large companies. The partial migra- tion of financial firms will thus have a major impact on these cities and their infrastructures. Banks are the key players in wholesale markets. United States and Swiss investment banks, together with one large German and three large French banks, will make up the core of the new EU27 wholesale markets. Some Dutch, Italian and Spanish banks are in the second tier. The forex, securities and derivatives trading markets are now in London. We map the current, limited market share of the four major cities that might host the EU27 client business. The expected migration of financial trading will lead to a large increase in trading capacity (eg bank trading floors). Clearing is the backbone of modern financial markets. A comparative overview of clearing facilities in the EU27 shows that Germany and France have some clearing capacity, but this will need to be expanded. The ownership of clearing is often intertwined with stock exchanges. Were the planned LSE-Deutsche Börse merger to go ahead, LSE would sell the Paris subsidiary of its clearinghouse. In terms of legal systems, there is an expectation that trading activities will be able to continue under English contract law, also in the EU27. A particular challenge is to develop FinTech (financial technology) in the EU27, as this innovative part of the market is currently based in London. We estimate that some 30,000 jobs might move from London to the EU27. This will put pressure on the facilities (infrastructure, offices, residential housing) in the recipient cities. The more the European Union market for financial services is integrated, the less need there will be for financial firms to move to one location, reducing the pressure for all facilities to be in one city (see Sapir et al, 2017, which is a companion piece to this paper).
Topic:
International Political Economy, International Trade and Finance, and Brexit
Political Geography:
Britain and Europe

176. Making the best of Brexit for the EU27 financial system

Author:
Andre Sapir, Dirk Schoenmaker, and Nicolas Veron
Publication Date:
02-2017
Content Type:
Policy Brief
Institution:
Bruegel
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.
Topic:
Economics, International Political Economy, International Trade and Finance, Political stability, and Brexit
Political Geography:
Britain and Europe

177. Is Brexit an opportunity to reform the European Parliament?

Author:
Robert Kalcik and Guntram Wolff
Publication Date:
01-2017
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
Brexit offers a political opportunity for the European Parliament to reform the allocation of seats to member states. This Policy Contribution explores different options for reform and their implications for equality of representation and distribution of seats to countries, within the constraints set by the EU treaties.
Topic:
International Organization, International Affairs, Political Theory, European Union, Democracy, and Brexit
Political Geography:
Europe

178. The Future Shape Of Europe: How The EU Can Bend Without Breaking

Author:
Dinah Pardijs and Almut Möller
Publication Date:
03-2017
Content Type:
Special Report
Institution:
European Council on Foreign Relations (ECFR)
Abstract:
Faced with internal and external pressures, the EU is increasingly focused on “cooperation” and “deliverables”, rather than “integration”. ECFR’s research shows that a critical mass of countries agree on the need for more flexible cooperation within the EU.
Topic:
International Cooperation, European Union, and Brexit
Political Geography:
Europe

179. “Not Laughing Now”: Nigel Farage, European Identity, and Euroscepticism in the EU

Author:
Baronia Nitisha
Publication Date:
03-2017
Content Type:
Working Paper
Institution:
Institute of European Studies (IES), UC Berkeley
Abstract:
Due to economic, political, and cultural disparities between member states, the European Union (EU) has been unable to form a pan-European political and cultural identity. This has resulted in a long-term vote capturing opportunity for far-right political parties, which have brought Euroscepticism to the EU’s doorstep through election to the European Parliament (EP). Furthermore, because of their ability to emphasize these deeply rooted economic, political, and cultural disparities, far-right eurosceptic Members of European Parliament (MEPs) exacerbate Euroscepticism in a self-sustaining cycle that both internally and externally threatens EU legitimacy and, if left unaddressed, the very future of European integration.
Topic:
International Affairs and Brexit
Political Geography:
Europe

180. Programming Brexit: How will the UK’s IT sector fare?

Author:
Mikkel Barslund and Matthias Busse
Publication Date:
06-2017
Content Type:
Working Paper
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
The British economy has always been able to rely on a continuous inflow of high-skilled workers from the rest of the EU and the UK is currently home to over three million EU citizens and. As a result of the UK’s decision to leave the European Union, however, the image of the UK in the eyes of foreign workers may have become tarnished. By using LinkedIn data, the authors of this study analyse the movements of IT professionals between the EU and the UK and thereby illustrate what is at stake for the UK, as exemplified by this particular ‘shortage sector’. LinkedIn data show that on an annual basis the UK gains over 6,000 IT experts more than it loses to the EU. Moreover, these mobile IT professionals tend to be much more qualified than domestic IT experts are. This reliance on the EU for IT recruitment – one in ten new hires comes from the EU – suggests that even if the UK is not aiming to restrict high-skilled immigration, curbing overall immigration could have unintended negative consequences for its capability to attract talented EU nationals in the future. The UK government should perhaps bear this in mind during negotiations with the EU27.
Topic:
Science and Technology and Brexit
Political Geography:
Europe