Brexit & Beyond: Europe in Flux is The Wall Street Journal’s round-up of news and analysis of how Brexit will affect global business, economies and finance. You can sign up here.
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French economy minister, Bruno Le Maire, left, with his predecessor, Michel Sapin, during the handover ceremony in Paris on May 17. (AP Photo/Christophe Ena)
CHRISTOPHE ENA/ASSOCIATED PRESS
German, French Finance Ministries Plan for Stronger Eurozone: German and French finance ministries will set up a joint working group to make proposals for strengthening the eurozone, German Finance Minister Wolfgang Schäuble said Monday after a meeting with new French Finance Minister Bruno Le Maire in Berlin.
Poland’s EU Isolation Spells Trouble Ahead: The political upheavals in Europe over the past year took many by surprise, but few have been so wrong-footed as the Polish government, writes Simon Nixon.
LSE’s Rolet Warns on Cost of Euro-Clearing Grab: Brussels should have greater oversight of the City’s clearing houses in the wake of Brexit, according to the chief executive of the London Stock Exchange. But he warned that forcing euro-denominated derivatives to be cleared within the eurozone could hit investors with a €100 billion bill.
U.K. Prime Minister Backtracks on Manifesto Pledge After Dip in Opinion Polls: U.K. Prime Minister Theresa May on Monday signaled a partial reversal on flagship plans to finance elderly care announced only last week, after a flurry of weekend opinion polls suggested the policy was eroding a double-digit poll lead over the main opposition Labour Party.
U.S., Europe Face Divisions Over Iran Policy: The landslide re-election of Iranian President Hassan Rouhani threatens to put the Trump administration on a collision course with Europe over future policy toward Tehran.
German Central Bank Warns Trump’s Tax Reform Would Hurt U.S. Economy: Germany’s central bank Monday said President Donald Trump’s tax plans would likely hurt the U.S. economy and lead to a 30 percentage-point increase U.S. debt-to-gross domestic product ratio within a decade.
Pedro Sánchez Chosen to Lead Spain’s Socialists: Spain’s Socialists re-elected a former party leader who had taken a hard line against conservative Prime Minister Mariano Rajoy, increasing the possibility of new parliamentary elections within the next year.
Pope Francis Further Diversifies the College of Cardinals: In a surprise announcement, Pope Francis said Sunday he will elevate five men from four continents to the College of Cardinals next month, continuing his practice of adding men from the peripheries of the Catholic world to the body that will elect his successor.
German Court Convicts Syrian Refugee of Being Islamic State Terrorist: A court on Friday sentenced a 20-year-old Syrian to five years in juvenile detention for being a member of Islamic State, in a trial billed as a test of Germany’s capacity to weed out radicals from among the many refugees who have arrived in the past two years.
IN THE PAPERS
Brexit Plays into Old Divisions in Northern Ireland – Politico
EU Dusts Off Forgotten Body for Brexit Big Time – Politico
Brussels Urges U.K. to Control Public Finances Ahead of Brexit – Financial Times
Why Bankers Leaving London May Not Enjoy Luxembourg Life – The Independent
Brexit Barriers ‘Would Harm Science’, Say Universities – BBC News
– Compiled with the help of Toby Luckhurst
For breaking news and intelligence on Brexit, finance, markets, deals and people from London, download WSJ City for iPhone or Android smartphone. And you can find more analysis of politics, economics and regulation in the European Union over on Real Time Brussels.
May 23, 2017 at 01:48AM
from Stephen Fidler
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