Brexit transitional agreement a priority argues new paper

In its second position paper the Deutsches Aktieninstitut argues in favour of a transitional agreement between the UK and the EU in on-going Brexit negotiations.

Brexit transitional agreement priority, in the second position paper from Deutsches Aktieninstitut
The Deutsches Aktieninstitut (DAI) an association of companies and institutions active in the German capital market, is to present its second position paper. The paper on the exit negotiations between the EU and the UK complements the first position paper from February 2017 and covers further relevant topics, e.g. clearing, benchmark and rating.In the light of proceeding negotiations, the position paper claims to find transitional arrangements that prevent Europe from entering a Cliff Edge Scenario.Under the slogan “Exit negotiations between the European Union and the United Kingdom: Minimise Brexit risks and strengthen the European capital market”, the analyses of financial and capital market legislation and concrete examples from practice, illustrate which topics deserve particular attention due to their significance for business and society in connection with the Brexit negotiations.
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No deal scenario and consequences for UK and EU

“The UK’s departure from the EU will have considerable consequences for the European economy and society”, said Dr. Christine Bortenschläger, chief executive of the DAI in the paper, “It is not yet possible to predict what those will look like in detail since the outcome of the ongoing negotiations between the United Kingdom and the European Union is still completely open. This means that companies are losing valuable time they need to adjust to the new situation.”

Risk and consequences of a hard Brexit can be reduced with transitional arrangements

The third country regimes in financial and capital markets law may not serve as a sufficient basis to regulate the relations between the 27 EU-states and the UK, the second position paper explained.The paper argues that the EU needs a new and broad trading agreement that complements the first transitional arrangements.The paper states, “Transitional arrangements are of decisive importance to buy more negotiating time, enable businesses to prepare for the new situation, and avert a no-deal scenario.”For related news and features, visit our Brexit section.Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Access hundreds of global services and suppliers in our Online DirectoryClick to get to the Relocate Global Online Directory  

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