scholarly journals Effects from Brexit on the EU-27 and the Euro Area Developments

2021 ◽  
Vol 1 (1) ◽  
pp. 17-25
Keyword(s):  
Decision Making ◽  
Euro Area ◽  
Banking Union ◽  
Decision Making Process ◽  
Integration Process ◽  
The United Kingdom ◽  
Opt Out ◽  
The Uk ◽  
The Eu ◽  
Stimulation Of

Brexit affects all the aspects of life, business and European integration process. It has strong implications also on the developments in the Euro Area despite the fact that the United Kingdom had the so-called “opt-out clause” for not adopting the single currency within the EU as well as despite the abstinence of the UK from participation in the Banking Union of the EU. The purpose of this study is to analyse some important aspects of the influence of Brexit on the EU-27 and the Euro Area developments. It is too early to draw final conclusions on the effects of Brexit on the EU-27 and the Euro Area developments. However, some possible implications may be outlined even today as for example the opportunity for consolidation of the Euro Area and its current reforms, possible implications for the EU decision making process and even a possible stimulation of the enlargement of the Euro Area.

The Law & Politics of Brexit: Volume II

2020 ◽  
Keyword(s):  
Decision Making ◽  
European Union ◽  
Legal Framework ◽  
Comprehensive Analysis ◽  
The European Union ◽  
Trade Relations ◽  
The United Kingdom ◽  
The Uk ◽  
Financial Settlement ◽  
The Eu

This book provides the first comprehensive analysis of the withdrawal agreement concluded between the United Kingdom and the European Union to create the legal framework for Brexit. Building on a prior volume, it overviews the process of Brexit negotiations that took place between the UK and the EU from 2017 to 2019. It also examines the key provisions of the Brexit deal, including the protection of citizens’ rights, the Irish border, and the financial settlement. Moreover, the book assesses the governance provisions on transition, decision-making and adjudication, and the prospects for future EU–UK trade relations. Finally, it reflects on the longer-term challenges that the implementation of the 2016 Brexit referendum poses for the UK territorial system, for British–Irish relations, as well as for the future of the EU beyond Brexit.

EU-UK free movement compromise will need flexibility

2017 ◽  
Keyword(s):  
United Kingdom ◽  
Euro Area ◽  
White Paper ◽  
Free Movement ◽  
Eastern European ◽  
Content Type ◽  
The United Kingdom ◽  
The Uk ◽  
East West ◽  
The Eu

Significance The UK government says it is determined that free movement of people from the EU will end after Brexit. Impacts An upcoming immigration White Paper will provide greater clarity about the UK government’s approach. Proposals to reform the EU's Posted Workers Directive could trigger Eastern European opposition, deepening the east-west divide. Stricter post-Brexit UK immigration policies could lead to labour shortages and skills gaps in sectors such as agriculture and health. Improving euro-area economic prospects could encourage EU nationals living in the United Kingdom to return to the continent.

scholarly journals The “Place of Effective Management” as a Connecting Factor for Companies' Tax Residence Within the EU vs. the Freedom of Establishment: The Need for a Rethinking?

2012 ◽  
Vol 13 (9) ◽  
pp. 1095-1130
Author(s):  
Luca Cerioni
Keyword(s):  
Decision Making ◽  
Control Test ◽  
Effective Management ◽  
Freedom Of Establishment ◽  
The United Kingdom ◽  
The Uk ◽  
And Control ◽  
Central Management ◽  
The Eu

The determination of the tax residence of companies – as a fundamental issue of (international) tax law – emerged between the end of the 19thcentury and the start of the 20thcentury. This emerged as an issue in cases where companies which were found to have their place of management, in the sense of a decision-making centre, in the United Kingdom (UK), carried out all their business activity, in terms of production and commercialization, in another country. At a time when the UK was establishing its tax system earlier than other countries, the tax courts of this country began to develop the “central management and control test” as a test for establishing companies' tax residence in these situations and to consider the companies at stake as tax residents in the UK on the ground that their decision-making centre was located there. Such decisions appeared to have been driven by an interest to prevent companies carrying out their business abroad from escaping UK taxation on their worldwide income, and thus to have been motivated by a specific anti-avoidance purpose. Nonetheless, the “central management and control” test formed the basis of the “place of effective management” test which, under the Organization for Economic Cooperation and Development (OECD) Model for bilateral conventions against double taxation, is currently adopted as a tiebreaker rule,i.e.as a criteria for allocating the tax residence of companies in cases where both contracting

Brexit and the Future of the European Union

2020 ◽  
Author(s):  
Federico Fabbrini
Keyword(s):  
European Union ◽  
United Kingdom ◽  
European Integration ◽  
The European Union ◽  
Integration Process ◽  
Member States ◽  
The United Kingdom ◽  
The Future ◽  
The Uk ◽  
The Eu

This book examines how the European Union has changed during Brexit and because of Brexit, while also reflecting on the developments of the EU besides Brexit and beyond Brexit. It argues that the withdrawal of the United Kingdom from the EU—the first ever case of disintegration since the start of the European integration process—creates an urgent need to reform the EU. In fact, while the EU institutions and its Member States have remained united in their negotiations vis-à-vis the UK, Brexit has created transitional problems for the EU, and exposed other serious fissures in its system of governance which need to be addressed moving forward. As the EU goes through another major crisis in the form of the response to the Covid-19 pandemic, the case for increasing the effectiveness and the legitimacy of the EU grows stronger. In this context, the book analyses the plan to establish a Conference on the Future of Europe, considering its precedents and discussing its prospects.

scholarly journals Should Denmark and Sweden Join the Banking Union?

2020 ◽  
Vol 6 (2) ◽  
pp. 317-326
Author(s):  
Svend E Hougaard Jensen ◽  
Dirk Schoenmaker
Keyword(s):  
Decision Making ◽  
Euro Area ◽  
Internal Market ◽  
Banking Union ◽  
Cross Border ◽  
Country Level ◽  
Important Policy ◽  
Pros And Cons ◽  
Policy Discussion ◽  
The Eu

Abstract An important policy discussion on joining the banking union is currently taking place in Denmark and Sweden. In this article we review the pros and cons of joining. The main rationale for joining the banking union is the importance of cross-border banking in the EU internal market. Reviewing the banking systems, we find that banks in Denmark and Sweden have the same cross-border characteristics as those in the euro area countries, suggesting a similar rationale for joining the banking union. Moreover, both countries have large banks which may be too big to save at country level, but not at the banking union level. Nevertheless, there are some governance concerns. While euro area countries have an automatic and full say in all banking union arrangements, the non-euro area countries (the ‘out’ countries) lack certain formal powers in ultimate decision-making; however, we find that this may be less of a problem in practice. If necessary, the ‘out’ countries would have the ‘nuclear option’ of leaving the banking union.

DECISION-MAKING ON BIOTECHNOLOGY: DEVELOPING NEW PRINCIPLES FOR REGULATION

1999 ◽  
Vol 01 (01) ◽  
pp. 61-79 ◽  
Author(s):  
JULIE HILL
Keyword(s):  
Decision Making ◽  
Ethical Concerns ◽  
The United Kingdom ◽  
Agricultural Applications ◽  
Decision Making Processes ◽  
Potential Benefits ◽  
Social Environmental ◽  
The Uk ◽  
Risk Assessment Methodology ◽  
The Eu

Biotechnology, specifically genetic modification, offers potential benefits to mankind, but also raises major social, environmental, health and ethical concerns. This paper deals with the agricultural applications of genetic technology, in particular, the potential environmental impacts of those applications. It considers the current underpinning principles of regulation in the United Kingdom (UK) and European Union (EU) and examines the problems for present decision-making processes, including disputes over risk assessment methodology, the handling of uncertainty, and lack of trust in official processes. The paper proposes a new set of underpinning principles for the decision-making process in the UK, and concludes that the UK should exercise leadership within the EU to ensure that these new principles are adopted across Europe.

scholarly journals Luxembourg

2017 ◽  
Vol 17 (259) ◽  
Author(s):  
Keyword(s):  
Decision Making ◽  
Euro Area ◽  
European Central Bank ◽  
Deposit Insurance ◽  
Conflicts Of Interest ◽  
Technical Note ◽  
Bank Failure ◽  
Banking Union ◽  
Decision Making Process ◽  
European Central

This Technical Note analyzes the bank failure mitigation and resolution regime, as well as arrangements for managing a financial crisis, in Luxembourg. The landscape for managing problem banks in Luxembourg has changed fundamentally in recent years. As part of the euro area, Luxembourg is now part of a banking union in which the European Central Bank (ECB) has exclusive authority to directly supervise significant institutions and the Commission for the Supervision of the Financial Sector (CSSF), under the oversight of the ECB, directly supervises less significant institutions. It is recommended that the CSSF increase staffing for resolution and pay attention to potential conflicts of interest in the decision-making process related to supervisory and deposit insurance functions.

scholarly journals Democracy and Financial Crisis Between the Five Presidents Report and the BREXIT: In Search for a New Way?

2016 ◽  
Vol 16 (2) ◽  
pp. 7-28 ◽  
Author(s):  
Nellie Munin
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Red Light ◽  
Member States ◽  
Pull Out ◽  
The People ◽  
Opt Out ◽  
Decision Making Processes ◽  
The Uk ◽  
The Eu

Summary In the aftermath of the Brexit, the EU is swinging between a vision of enhanced integration, depicted by the Five Presidents Report, and a decision by the people of one of its leading member states - the UK - to withdraw this alliance, that may be interpreted as a non-confidence vote in the enhanced integration process underlying the EU. This article assumes that non-democratic elements embodied in the measures taken to pull out of the financial crisis and stabilize EU/EMU economies may enhance non-confidence among EU/EMU citizens, serving as incentives for more member states to opt out of this alliance, inspired by the Brexit. While it might have been expected that as the peak of the crisis passed, decision makers would pay more attention to ensure the democratic nature of such measures, comparison of the regulation enacted during the emergency phase and shortly thereafter with later regulation reveals that, despite certain improvements, many non-democratic elements still characterize both the nature of the measures devised and the decision-making processes leading to them. The article suggests that the Brexit should serve as a red light, reinforcing previous criticism calling for improving the democratic nature of such measures and of the decision-making processes involved, to prevent a further drift.

Sign in / Sign up

Export Citation Format

Share Document