Michel Barnier moves to restart stalled Brexit talks – FT
- On a call with David Frost this afternoon, Michel Barnier said Brussels is prepared to start discussing legal treaty texts.
- Barnier tweeted that Brussels is ready to “intensify” talks and that the EU is waiting for Britain’s reaction.
- In response, Michael Gove welcomed the positivity just moments after stating that Britain is “increasingly well prepared to exit… without a trade deal”.
UK archbishops urge ministers not to breach international law over Brexit – Guardian
- The archbishops of Armagh, Canterbury, York, Wales and the Scottish Episcopal Church have publically challenged the internal market bill and condemned it as a “disastrous precedent”.
- The archbishops said they “believe this would create a disastrous precedent. It is particularly disturbing for all of us who feel a sense of duty and responsibility to the Good Friday (Belfast) Agreement – that international treaty on which peace and stability within and between the UK and Ireland depends …”.
- In a letter written to the FT, the archbishops asked legislators “to consider this bill in the light of values and principles we would wish to characterise relationships across these islands long after the transition period”.
Stock traders caught in EU-UK dual-listing dilemma to get watchdog’s advice within days – MLex
- Traders in stocks listed in both the EU and UK will this week get advice from the European Securities and Markets Authority on where they need to trade their shares.
- The UK is implementing its own version of the EU regulations but if the EU does not recognise these laws as equivalent, London-based investment banks with EU branches may need to trade in both jurisdictions simultaneously.
- “Absent an equivalence decision by the commission regarding trading in the UK, we need to have clarity on which shares are captured by the [share trading obligation]”, the ESMA chief told the European Parliament.
Pound steady as investors shrug off warning of no EU-UK trade deal – FT
- Despite Boris Johnson’s statement on Friday that the UK may leave the EU without a deal, sterling has remained stable suggesting that the market still believes the UK will not walk away from the talks.
- Brexit fatigue combined with the effects of the coronavirus crisis means Brexit now has less of an impact on UK rates and bond yields.