Most ways to resolve the current stalemate in the UK parliament with respect to Brexit imply that the UK will no longer be part of the internal market for financial services. There is a risk that capital market services in the EU-27 will decline in scope and quality without the UK in the internal market but this risk can be mitigated. We propose that the EU and the UK form a joint high-level committee to develop proposals for simplified and better regulation that strengthens market discipline.
Undoubtedly, integrated Europe and the United Kingdom have a curious and strange relationship. Since the very beginning of the European integration process the UK showed skepticism and, often, annoyance. The reasons for such a feeling can be identified in the peculiar history of the British people: local conflicts led to stabilization, growth and imperial splendor. The end of the Second World War, nevertheless, introduced a new era of international dialogue, mutual respect and led almost inevitably to the decolonization process.
When, in June 2012, David Cameron announced a referendum on the political status – a phrase to avoid calling it on the sovereignty – of the Falkland (or Malvinas) Islands, few had doubts about the outcome. On 10 and 11 March, the kelpers answered a very simple question: «do you wish the Falkland Islands to retain their current political status as an Overseas Territory of the United Kingdom?». As the Argentina’s Ambassador to the United Kingdom, Alicia Castro, said more than a week ago, the result was «100% predictable».