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Begin New Search Topic Brexit Political Geography Europe Content Type Policy Brief

1. Time for Fresh Thinking on Northern Ireland and Brexit

Author:
David Henig
Publication Date:
02-2022
Content Type:
Policy Brief
Institution:
European Centre for International Political Economy (ECIPE)
Abstract:
The Good Friday / Belfast Agreement became, with considerable efforts over several years from so many involved, a broadly accepted if never fully stable political framework for Northern Ireland. A year after implementation, the prospect of the Northern Ireland Protocol delivering similar results is diminishing. Instead, there is a risk it entrenches divisions in which all sides believe others, not themselves, must be the ones to compromise most. Such divisions around the Protocol have spread beyond the land and sea borders of Northern Ireland, increasingly overshadowing relationships between the UK and the EU, and the UK and the US. These are not in any of their wider interests. Talk of trade wars in Europe cannot strengthen any economy, while the UK’s diplomatic relationships with the US remain strained. Finding unity on huge questions like Russia-Ukraine becomes harder against this backdrop. To varying degrees, all of the parties involved in the Northern Ireland Protocol discussions were involved in reaching the 1998 Agreement that ended the 30-year period known as ‘the troubles’. Drawing on the lessons from that time and the arrangements they put in place, there is a need for a new political process, outside of technical discussions on trade matters within the Protocol. A new shared endeavour is needed to resolve what otherwise threatens to be a long and damaging Northern Ireland and Brexit stalemate.
Topic:
Treaties and Agreements, Brexit, and Domestic Politics
Political Geography:
United Kingdom, Europe, and Northern Ireland

2. Why the Ukraine crisis should push the UK and EU into a tighter embrace on security policy

Author:
Steven Blockmans
Publication Date:
02-2022
Content Type:
Policy Brief
Institution:
Centre for European Policy Studies (CEPS)
Abstract:
One of the costs of Brexit is the weakened ability of both the UK and the EU to shape a strong joint response to Russia’s threats to pan-European security. In the standoff over Ukraine, the need for close cross-Channel cooperation is particularly acute for any effective sanctions package negotiated with the US. Yet, post-Brexit relations between the UK and the EU are currently governed by a narrow Trade and Cooperation Agreement (TCA) which does not include a designated chapter on political dialogue and that, barring a handful of exceptions, does not contain any provisions on cooperation on foreign and security matters. Fortunately, the preparatory work undertaken to reach the bilateral accord contains the answer to the question on how trust between the parties can be regained through procedural means. This policy brief highlights the embers of the Brexit bonfire that might be raked up to rekindle the flame of dialogue and cooperation between the UK and the EU in foreign affairs and security policy.
Topic:
Security, Foreign Policy, Sanctions, European Union, and Brexit
Political Geography:
United Kingdom, Europe, and Ukraine

3. Britain, Germany, and the Rise of Competitive Virtue Signaling

Author:
Roderick Parkes
Publication Date:
01-2022
Content Type:
Policy Brief
Institution:
German Council on Foreign Relations (DGAP)
Abstract:
In 2016, British and German officials were clear: they wanted quickly to put Brexit behind them and cooperate on big ticket items like the international rule of law. Now, in 2022, the pair in fact seem to be competing more than they cooperate. Germany wants to shine in comparison with Britain, and the UK sees advantages for its own standing if Germany falls short. This “competitive virtue signaling” defines Germany and the UK’s post-Brexit rivalry, and – oddly – might lead to tighter relations.
Topic:
European Union, Brexit, Rivalry, Cooperation, and Competition
Political Geography:
Britain, Europe, and Germany

4. Fog in Channel? The Impact of Brexit on EU and UK Foreign Affairs

Author:
Amelia Hadfield and Nicholas Wright
Publication Date:
06-2021
Content Type:
Policy Brief
Institution:
European Union Institute for Security Studies
Abstract:
The UK’s rejection of any institutionalised relationship with the EU in foreign, security and defence policy (FSDP) is arguably the most noteworthy feature of the post-Brexit dispensation. In a stark reversal in early 2020, the British government abandoned pledges made in the 2019 Political Declaration to ‘establish structured consultation and regular thematic dialogues [that] could contribute to the attainment of common objectives’, including on the Common Foreign and Security Policy (CFSP) and the Common Security and Defence Policy (CSDP) (1). This gap was intensified by the absence of any reference to foreign affairs in the EU-UK Trade and Cooperation Agreement (TCA) or the Integrated Review of Security, Defence, Development and Foreign Policy (IR) (2). Indeed, the IR essentially ignores the EU, referring only to British ambitions to remain a lead European defence actor, with a focus on multilateral venues (notably the UN and NATO), bilateral relations and ad hoc groupings. In short, an EU-sized hole now exists in British foreign policy thinking. This matters in London and across Europe. While in the EU, the UK exercised significant influence and leadership in FSDP, its EU membership magnifying its global capacities. In leaving, Sir Simon Fraser, formerly permanent under-secretary in the Foreign and Commonwealth Office (FCO), warned that Brexit represented ‘the biggest shock to [the UK’s] method of international influencing and the biggest structural change to our place in the world since the end of World War Two’ (3). From the EU’s perspective, as observed by High Representative Josep Borrell, ‘with Brexit, nothing gets easier and a lot gets more complicated. How much more complicated depends on the choices that both sides will make’ (4). The choices thus far indicate a rejection of ‘old obligations’ (5) and an essentially transactional relationship that will be ‘structurally adversarial for the foreseeable future’ (6). Nonetheless, Brexit also gives both the UK and the EU a once-in-a-generation opportunity to rethink and reconfigure their approaches to foreign affairs and how they navigate a profoundly changed regional context. To understand the scale of this undertaking, we offer an innovative thematic analysis focused on four ‘Rs’: reputation, responsibility, resources and relevance. Each ‘R’ represents a core element of both sides’ respective foreign policies, offering insights into possible international roles and goals. The four ‘Rs’ also help us identify the main risks and opportunities Brexit encompasses, providing a conceptual symmetry as to how the choices of both the EU and UK might align and impact each other.
Topic:
Foreign Policy, European Union, and Brexit
Political Geography:
United Kingdom and Europe

5. Beyond Global Britain: A realistic foreign policy for the UK

Author:
Jeremy Shapiro
Publication Date:
12-2021
Content Type:
Policy Brief
Institution:
European Council on Foreign Relations (ECFR)
Abstract:
The UK government’s vision for Global Britain aims to restore British greatness as a maritime trading nation. But this vision does not reflect today’s geostrategic realities, including the continuing importance of the EU. The Johnson government seems to need the perennial fights of a permanent Brexit, but this approach is eroding the UK’s capacity to cooperate with the EU on foreign and security policy. At the same time, as ECFR polling reveals, the British public do not have any particular animus towards the EU. While the public value British sovereignty and independence, they would support a foreign policy that worked cooperatively with the bloc. The public is on to something: Britain still has extraordinary assets and can forge an effective foreign policy. Yet, to do so, it must focus on British strengths, avoid military adventures in distant lands, and find balanced, effective working relationships with the EU and the US. British security and prosperity will increasingly depend on unromantic issues such as carbon tariffs and investment screening – on which the best way to protect British interests is to triangulate between the EU and US positions.
Topic:
Foreign Policy, European Union, Geopolitics, and Brexit
Political Geography:
United Kingdom and Europe

6. The day after: The conflicting implications of Brexit

Author:
Al Jazeera Center for Studies
Publication Date:
01-2021
Content Type:
Policy Brief
Institution:
Al Jazeera Center for Studies
Abstract:
Britain has effectively left the EU after long and tiresome negotiations. But the implications of Brexit have not transpired completely as the aftershocks may be felt within Britain itself in the form of increased desire for independence in Scotland; and London may fail to establish trade agreements that can compensate for its exit from the EU.
Topic:
European Union, Economy, Brexit, and Trade
Political Geography:
United Kingdom, Europe, and Scotland

7. Labor Market Impact of Immigration in the European Union

Author:
Dong-Hee Joe
Publication Date:
04-2021
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
Immigration is one of the factors often considered as the causes of Brexit. Researchers find evidences that regions with more immigrants from the new member states of the European Union (EU hereinafter) in eastern Europe tended to vote more in favor of Brexit in the 2016 referendum. Similar relations between the size of immigrant population and anti-immigration attitudes or far-right voting are found in other richer EU member states. A common explanation for this relation is the concern that immigrants negatively affect the outcome in the host labor market. Immigration is drawing attention in Korea too. Although immigrants' share in population is still substantially smaller in Korea than in the EU, its increase is noticeable. Also, certain industries in Korea are known to be already heavily reliant on immigrant labor. Recently, as entry into the country was tightened due to the COVID-19 pandemic, firms and farms are reported to have faced a disruption in production. This trend of increasing presence of immigrants in population and in the labor market, vis-à-vis the low fertility rate and rapid aging in Korea, is raising interest and concern on the socioeconomic impact of immigration. To offer some reference for the debates related to immigration in Korea, KIEP researchers (Joe et al. 2020 and Joe and Moon 2021) look at the EU, where immigrants' presence was much higher from much earlier on, and where the greater heterogeneity among the immigrants allows for richer analyses. This World Economy Brief presents some of their findings that are salient for Korea.
Topic:
Immigration, European Union, Brexit, and Labor Market
Political Geography:
Britain, Europe, Asia, and Korea

8. Brexit and the Irish Question

Author:
Marie-Claire Considère-Charon
Publication Date:
02-2021
Content Type:
Policy Brief
Institution:
Robert Schuman Foundation (RSF)
Abstract:
When thinking of the Irish question, it calls to mind the partition of the island of Ireland, ratified by the Government of Ireland Act of 23 December 1920, which was intended to satisfy the aspirations of the Protestant majority in Ulster, who were in favour of keeping the province under the authority of the Crown. Partition was plotted on the basis of a sectarian calculation to separate the six predominantly Protestant counties of Ulster[1] from the overwhelmingly Catholic Republic of Ireland. It inevitably raises the issue of the border that separates the two jurisdictions, which over the last century has been a symbol of injustice for the Catholic minority and a target for republican paramilitary groups, particularly the IRA. Thanks to the Belfast Agreement, the so-called Good Friday Agreement in 1998, which was the culmination of a long peace process, one might have assumed that the issue of the Irish border would not surface in debate again. But this did not take into account the extent of the nationalist and Europhobic current in England, which would lead to the United Kingdom's withdrawal from the European Union by referendum on 23 June 2016.
Topic:
Treaties and Agreements, Brexit, and Borders
Political Geography:
Europe, Ireland, and Northern Ireland

9. The post-Brexit EU-UK relationship: an opportunity or challenge for cyber security?

Author:
Ellie Templeton and Robert Dewar
Publication Date:
09-2021
Content Type:
Policy Brief
Institution:
The Geneva Centre for Security Policy
Abstract:
With multiple post-Brexit pathways that could still be pursued following the recent adoption of the new security agreements, the EU-UK cyber security relationship is still evolving. Value must be placed on collaboration to tackle shared cyber threats, the role EU institutions play in bringing cyber security actors together, and Britain’s former contribution to European security. These factors strongly indicate that, although new opportunities may present themselves, there will likely be irreversible losses for collective cyber resilience due to Brexit. In order to work towards a new, valuable relationship model, it is recommended that both the EU and UK uphold professional, transparent and non- political security cooperation going forward, whilst remaining open to flexible operational support in the unpredictable and ever-changing cyber threat landscape. Ultimately, within an international system affected by “instability, insecurity and uncertainty”,61 it remains to be seen what opportunities and challenges arise, and if the resulting relationship, whether based on one specific pathway or a combination of all three, could constitute an effective EU relationship model for non-EU entities in the cyber security field.
Topic:
Security, Regional Cooperation, European Union, Cybersecurity, and Brexit
Political Geography:
United Kingdom and Europe

10. Brexit: An Assessment of Zambia- UK Trade & Investment Relations

Author:
Shimukunki Manchishi and Mwanda Phiri
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
Zambia Institute for Policy Analysis and Research (ZIPAR)
Abstract:
Following the Brexit referendum held in the UK in 2016 that resulted in a majority vote to leave the EU, there has been speculation and uncertainty surrounding the likely impact of Brexit on trade relations between the UK and developing countries such as Zambia. With Brexit, comes the exit of the UK from the EU, its customs union as well as the single market. Consequently, this implies that Zambia’s trade with the UK will no longer be under the ambit of the EU Everything But Arms (EBA) trade agreement which grants Zambian products other than arms, duty-free and quota-free market access to the UK. Naturally, this brings about questions of the likely impact of Brexit on trade relations between Zambia and the UK which thus far, has been determined collectively under the framework of the EU since the UK’s accession to the EU customs union. In this policy paper, we provide a contextual analysis of the same. From this, we deduce that a ‘deal’ or ‘no deal’ Brexit is not likely to adversely impact the UK’s trade with Zambia. This is on condition that the UK’s own unilateral preference scheme comes into place and in time, to replicate the EU-EBA scheme with no disruption to traders. On the Investment front, although the UK has been Zambia’s fourth-largest source country for FDI inflows over the period 2010-2017, investments have been waning. Brexit has the potential to turn things around as the UK seeks to increase investments in other jurisdictions outside of the EU. With the UK now envisioning to become the largest G7 investor in Africa by 2022, there is a high probability that Brexit could lead to a positive investment crowding in effect, provided Zambia becomes a more attractive investment destination.
Topic:
Bilateral Relations, Brexit, Investment, and Trade
Political Geography:
Africa, United Kingdom, Europe, and Zambia

11. A Post-Brexit Trade Policy for Development and a More Integrated Africa

Author:
Kimberly Ann Elliott
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
The United Kingdom will confirm its departure from the European Union on 31st January 2020. As part of its independent trade policy, the government has committed to improve access to UK mar- kets for the poorest countries. This note sets out three ways it can do so: expanding duty-free market access while avoiding piecemeal trade agreements that undermine Africa’s own trade integration ef- forts; using an alternative framework for those trade agreements it does negotiate with developing countries; and supporting a “back-to-basics” multilateral negotiation at the World Trade Organiza- tion that could help to rebuild confidence in that institution and thus protect the interests of small and vulnerable countries. After a brief review of the background and context, it sets out specific pro- posals in each of these areas.
Topic:
Development, International Cooperation, International Trade and Finance, European Union, and Brexit
Political Geography:
Africa, United Kingdom, and Europe

12. The European Union’s post-Brexit reckoning with financial markets

Author:
Rebecca Christie and Thomas Wieser
Publication Date:
05-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
In the negotiations between the European Union and the United Kingdom over their future relationship, we see a high probability of a weak contractual outcome, given the dominance of politics over considerations of market efficiency.
Topic:
Markets, Governance, Europe, Brexit, Negotiation, and Macroeconomics
Political Geography:
United Kingdom and Europe

13. The Brexit parenthesis: Three ways the pandemic is changing UK politics

Author:
Mark Leonard
Publication Date:
08-2020
Content Type:
Policy Brief
Institution:
European Council on Foreign Relations (ECFR)
Abstract:
The shock of covid-19 in Britain may end the culture-wars politics set off by the Brexit referendum – which split the country between Leave and Remain, town and city, old and young. Many people had lent their votes to Boris Johnson’s Conservatives for cultural reasons, in spite of the fact that they were closer to the opposition Labour Party on economic issues. Covid-19 might cause a rethink, as voters expect competence from the government. Counterintuitively, both Leavers and Remainers are open to a leftist domestic agenda and greater cooperation with international partners – issues on which Labour is normally strong. Covid-19 has caused voters to take a dimmer view of previously touted post-Brexit trade partners like the US and China. They think more highly of countries such as Germany. The battleground will be ‘Red Wall defectors’ – voters who gave Johnson his 2019 general election landslide but who are reassessing what matters to them after Brexit. A politics divided along the lines of Leavers and Remainers could disappear as quickly as it appeared – but the Conservatives may nevertheless attempt to stoke the divisions of 2016 that secured them Brexit.
Topic:
Politics, European Union, Brexit, and COVID-19
Political Geography:
United Kingdom and Europe

14. Brexit on the Backburner: Citizens’ Rights and the Implementation of the Withdrawal Agreement in a Pandemic

Author:
Aliyyah Ahad and Monica Andriescu
Publication Date:
09-2020
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
Just weeks after the United Kingdom’s formal departure from the European Union on January 31, 2020, the COVID-19 pandemic hit Europe with full force. The outbreak drew public and political attention away from the implementation of the withdrawal agreement, while also straining many public administrations, including agencies responsible for residency applications. With the clock ticking down on the transition period, set to end on December 31, 2020, many EU countries have yet to announce the details of the systems that will govern the future status and rights of their UK-national residents. The United Kingdom is further along, having rolled out its pilot EU Settlement Scheme to resident EU nationals in 2019. But of the 26 EU countries with responsibilities for citizens’ rights, only Italy, Malta, and the Netherlands had launched registration schemes before the pandemic began. And even where implementation had begun, many systems faced setbacks as in-person government services were suspended by lockdown measures. This has created considerable uncertainty for UK nationals in EU countries, and EU nationals in the United Kingdom—as well as their families—who will have six months after the transition period ends to acquire a new post-Brexit status. As this policy brief details, the pandemic has put some in an even more precarious position, including families with third-country-national members that have been separated by travel restrictions, and the newly unemployed, who may no longer meet the conditions of the EU Free Movement Directive (the foundation of the withdrawal agreement). This brief sets out steps governments on both sides of the Channel can take in the coming months to “pandemic-proof” their implementation plans. These include: investing in smart outreach to would-be applicants, streamlining status-adjustment processes, and supporting civil-society groups that can help applicants through the process.
Topic:
Treaties and Agreements, European Union, Economy, Brexit, Pandemic, and COVID-19
Political Geography:
United Kingdom and Europe

15. The EU should prepare for all UK post-election scenarios

Author:
Larissa Brunner
Publication Date:
12-2019
Content Type:
Policy Brief
Institution:
European Policy Centre (EPC)
Abstract:
With the UK elections imminent, Larissa Brunner lays out three different scenarios depending on the outcome. None offer any reason for the EU to be optimistic. If the Conservatives win, the Withdrawal Agreement will probably be passed, providing short-term predictability and certainty. But any long-term deal will probably be much worse than the status quo. A Labour victory would mean the opposite: further short-term uncertainty until the new government has renegotiated another Brexit deal and held a second referendum, but a possible closer relationship in the long run (assuming the Leave vote is confirmed). A hung Parliament would combine the worst of both worlds. And then there’s the Scottish question. Regardless of whether the new government needs SNP support or not, the political pressure on London to endorse a second independence vote is likely to increase. The EU should, therefore, not take its eye off the ball and use the current respite in the Brexit process to prepare itself for all of the possible post-election scenarios.
Topic:
Elections, European Union, and Brexit
Political Geography:
Britain, United Kingdom, Europe, and Scotland

16. Countdown for Brexit: What to Expect for UK, EU and Turkey?

Author:
Burak Cop
Publication Date:
04-2019
Content Type:
Policy Brief
Institution:
Global Political Trends Center (GPoT)
Abstract:
As the most divisive issue of the British politics since 2016, the Brexit phenomenon continues to shake the two biggest mainstream parties, Conservatives and Labour. The Conservative Party is affected by the tension between the Soft and Hard Brexiters, but the divisiveness Brexit brings about hits Labour even worse. A No Deal or Hard Brexit is likely to strengthen Scotland’s bid for independence. Scotland’s probable departure from the UK will surely be encouraging for other secessionist movements in Europe, however it should be noted that the window of opportunity Brexit opens for Scottish nationalists constitutes a rather exceptional case in Europe. One could argue that the “Norway model” for post-Brexit UK could be valid for Turkey too, but that model aims to bring about a deeper integration than what the proponents of “EU-Turkey exclusive partnership” prescribe for Turkey.
Topic:
European Union, Brexit, Political Parties, and Secession
Political Geography:
United Kingdom, Europe, Turkey, Middle East, North America, Scotland, and European Union

17. On the Brink: Prospects for UK Nationals in the EU-27 after a No-Deal Brexit

Author:
Meghan Benton and Aliyyah Ahad
Publication Date:
09-2019
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
In the run-up to the original March 2019 Brexit date, the European Union saw a flurry of activity as the remaining 27 Member States quickly put together contingency plans for what would happen should the United Kingdom crash out of the bloc without a deal. By necessity, many of these plans were skeletal. The extension of the Brexit deadline to the end of October 2019 bought the EU-27 additional time, but, as this policy brief discusses, few countries have undertaken significant additional planning for how to register and secure the rights of their resident UK nationals. This could spell major difficulties ahead for the nearly 1 million Britons living in the EU-27, who in a no-deal Brexit would become third-country nationals overnight, with implications for their residence status, employment rights, health-care access, and more. The United Kingdom, with its larger EU-national population of 3.6 million, has already rolled out a pilot program to enable these residents to adjust their legal status. Still, the challenges coming to light with this program hint at what could be in store for UK nationals facing untested systems in the EU-27. This policy brief looks at the major gaps in contingency plans across the EU-27 and the groups likely to be hit hardest by a no-deal Brexit, including mixed-nationality families, same-sex partners, and pensioners. It also recommends strategies the EU-27 and the United Kingdom could adopt to smooth the landing—from dropping some official criteria to register residence and making documentation requirements more flexible, to moving ahead with discussions of future social security coordination.
Topic:
European Union, Immigrants, Brexit, and Integration
Political Geography:
United Kingdom and Europe

18. Progressive reforms for rebalancing the eurozone

Author:
Manuel de la Rocha Vàzquez
Publication Date:
11-2017
Content Type:
Policy Brief
Institution:
Fundación Alternativas
Abstract:
Completing, deepening and rebalancing the Economic and Monetary Union is perhaps the most crucial point of the dense European policy agenda. For social democrats, reforms of the Eurozone cannot aim exclusively at stabilising financial and sovereign markets or introducing more fiscal Discipline. From a progressive perspective, the main objective of reforming the Economic and Monetary Union is to address the problems of low growth and high unemployment, lack of social convergence and the democratic deficit. The authors present some crucial elements for a reform inspired by progressive values; they advocate for a fully-fledged Banking Union, a Convergence Code, a real Social Dimension and a Fiscal Capacity which includes both a stabilisation and an investment function.
Topic:
Reform and Brexit
Political Geography:
Europe

19. The impact and consequences of Brexit on acquired rights of EU citizens living in the UK and British citizens living in the EU-27

Author:
Antonio Fernández Tomás
Publication Date:
04-2017
Content Type:
Policy Brief
Institution:
Fundación Alternativas
Abstract:
La Fundación Alternativas presenta un nuevo estudio: ¨The impact and consequences of Brexit on acquired rights of EU citizens living in the UK and British citizens living in the EU-27¨. Informe encargado y financiado por el Parlamento Europeo, ha sido elaborado por Antonio Fernández Tomás y Diego López Garrido.
Topic:
International Relations and Brexit
Political Geography:
Europe

20. 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