Les dépêches lundi matin

Déconvenue électorale pour Macron et LREM, la droite garde la majorité au Sénat.  Il est déja loin le temps de la recomposition et des grandes ambitions.

[Bloomberg] Yen, Kiwi Drop as Politics in Focus; Stocks Mixed: Markets Wrap

L’indice de confiance des milieux d’affaires allemands compilé par l’Institut Ifo a atteint 115,2 points en septembre, contre 115,9 le mois précédent…

[Bloomberg] China Developers Plunge as Government Expands Tightening

[Reuters] Merkel hangs on to power but bleeds support to surging far right

[Bloomberg] Crypto-Mania Grips Hong Kong as City Looks for Life Beyond Banks

[WSJ] Ignore the Fed’s Yield Sign at Your Peril

[WSJ] German Results Reflect European Unease Over Identity, Economy


Theresa May à Florence selon Open Europe

In her Florence speech last week, Prime Minister Theresa May confirmed the UK’s intention to adopt a status quo transition, where the UK continues to operate under “the existing structure of EU rules and regulations,” for around two years after March 2019. She also said that no member state would have to pay more, or receive less from, the EU budget until 2020, the end of the current multiannual budget period. Regarding the long-term UK-EU relationship, she ruled out both the Swiss and Canada models, calling instead for a “bespoke” arrangement. Open Europe’s Aarti Shankar argued in a reaction piece, “While many of today commitments could and should have been put forward earlier, it is welcome to see them outlined today. They are unlikely to be enough to unlock the current impasse in negotiations, but it is now for the EU to react to ensure discussions can continue to move forward.” The fourth round of Brexit negotiations will begin in Brussels today. Open Europe’s Marta Vokshi and Leopold Traugott also reviewed European reactions to May’s speech.

Elsewhere, Open Europe director Henry Newman appeared on the BBC’s Victoria Derbyshire show, Sky News and the FT podcast on Friday to discuss the Prime Minister’s intervention.

Meanwhile, responding to May’s speech, Shadow Secretary of State for Exiting the EU, Sir Keir Starmer said all May has done is to “delay the cliff edge.” Writing in The Times, he argues, “Remaining in a form of customs union with the EU is a possible end destination for Labour. We are also flexible as to whether the benefits of the single market are best retained by negotiating a new single market relationship or by working up from a bespoke trade deal.”

Separately, according to The Daily Telegraph, Foreign Secretary Boris Johnson wants Britain to be able to sign trade deals during the transition period as well as not adopt any new EU rules and regulations during that time. An editorial for The Daily Telegraph welcomes Johnson’s “red lines.” It argues, “Britain should be able to get on with negotiating and signing its own free trade deals from 2019, which is one of the main opportunities gained by leaving the EU. There should also be no question of the country accepting, without any say, every new regulation that Brussels cooks up after we officially leave the EU in 2019.”


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