Has The City Of London Benefitted From Brexit As The Golden Days Continue To Fade?
Webinar
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Background: Three years after leaving the EU, there are no discernible signs of any benefits for UK finance. Instead, there are multiplying, and worrying, signs of a lack of substance to the initial, bold slogans. The MoU on financial service co-operation with the EU is revealed as a talking shop that leaves EU autonomy unfettered. The City’s global standing is slowly sinking, and leadership seems to be slipping away from the UK in many fields as the EU continues to exercise its soft power of setting standards that acquire global standing due to its economic scale.
Speaker:
Graham Bishop has been an active participant in, and commentator on, EU financial markets for more than fifty years. He is renowned for his vision and the courage to propose radical ideas yet ground them in a mastery of the technical details of the financial system. His influence in policy-making circles built up from the early 1990s, when he pointed out to the Maastricht Treaty negotiators that government debt would have a fundamentally different quality in a common currency.
He went on to play a key role in designing the changeover to the euro of national currencies, and of Europe’s capital markets. He was a member of the European Commission’s Maas Committee in 1994/5 (preparing the changeover to the single currency); a member of the Financial Services Strategy Group in 1998/9 (creating the Financial Services Action Plan); and a member of the Giovannini Group in 2001/03 (removing barriers to efficient clearing and settlement).
He participated in the work by ELEC at the height of the euro crisis in 2010/11 to develop a proposal for a `two-year EMU Bond Fund’ to offer temporary refinancing to euro-zone governments. He developed this concept further as a Temporary Eurobill Fund and was appointed by then-Commission President Barroso to a European Commission Expert Group in 2013/14 to examine the topic.
