UK farmers call for import tariffs on agricultural products in no-deal Brexit

Britain’s National Farmers Union wrote to Prime Minister Boris Johnson on Friday calling for import tariffs on eggs, some dairy products, horticultural products and grains if Britain leaves the European Union without a trade deal. British agricultural exports to the EU are expected to face tariffs under a no-deal scenario, but in March the government under then Prime Minister Theresa May announced a plan to eliminate tariffs on many imports, including some dairy products and agricultural product


Britain’s National Farmers Union wrote to Prime Minister Boris Johnson on Friday calling for import tariffs on eggs, some dairy products, horticultural products and grains if Britain leaves the European Union without a trade deal. British agricultural exports to the EU are expected to face tariffs under a no-deal scenario, but in March the government under then Prime Minister Theresa May announced a plan to eliminate tariffs on many imports, including some dairy products and agricultural product
UK farmers call for import tariffs on agricultural products in no-deal Brexit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30
Keywords: news, cnbc, companies, union, eu, products, farmers, nodeal, agricultural, tariffs, uk, import, farming, imports, tariff, brexit


UK farmers call for import tariffs on agricultural products in no-deal Brexit

Angus MacFadyen and his sons Colin and Allan work with their sheep on Bragleenmore farm Oband, Scotland on February 20, 2018.

Britain’s National Farmers Union wrote to Prime Minister Boris Johnson on Friday calling for import tariffs on eggs, some dairy products, horticultural products and grains if Britain leaves the European Union without a trade deal.

British agricultural exports to the EU are expected to face tariffs under a no-deal scenario, but in March the government under then Prime Minister Theresa May announced a plan to eliminate tariffs on many imports, including some dairy products and agricultural products, to avoid a so-called hard border with Ireland.

“There is no indication that such an arrangement will be reciprocated by the EU and there is nothing in practical terms to stop this trade becoming an open gateway for all EU goods entering the UK duty free,” NFU president Minette Batters said in a statement.

Export tariffs on agricultural goods would most likely lead to a surplus of domestic products on the UK market, she said, while at the same time lower or no tariffs on imports would put further downward pressure on domestic producer prices.

The farming group also asked the government to review its plan not to impose tariffs on the land border with Ireland if it leaves the trading bloc without a deal on Oct. 31.

A no-deal Brexit would be a disaster for British farming and any exit from the EU must be smooth and orderly, she said.

“If we leave without a deal the sudden change in our trading relationship with the EU will have severe impacts on the UK food and farming sectors, not least due to the tariff treatment of both imports and exports,” she said.

Batters said the government should revise its tariff regime to lessen the damage no-deal would inflict on UK farming.

“It is also important that government manages prices for the public in a no-deal scenario – these tariff arrangements will have little impact on retail food prices yet could have a massive impact on the viability of farm businesses,” she said.


Company: cnbc, Activity: cnbc, Date: 2019-08-30
Keywords: news, cnbc, companies, union, eu, products, farmers, nodeal, agricultural, tariffs, uk, import, farming, imports, tariff, brexit


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

EU chief Tusk says will ‘respond in kind’ if US imposes tariffs on France over digital tax

The European Union will “respond in kind” if the U.S. imposes tariffs on France over digital tax plan, Donald Tusk, president of the European Council said on Saturday. Speaking at the G-7 leaders meet in Biarritz in France, Tusk said if President Donald Trump uses tariffs for political reasons then it can be risk for the whole world, including the EU, Reuters reported. Earlier on Saturday, Trump criticized the French digital tax aimed at big U.S. technology companies and threatened again to reta


The European Union will “respond in kind” if the U.S. imposes tariffs on France over digital tax plan, Donald Tusk, president of the European Council said on Saturday. Speaking at the G-7 leaders meet in Biarritz in France, Tusk said if President Donald Trump uses tariffs for political reasons then it can be risk for the whole world, including the EU, Reuters reported. Earlier on Saturday, Trump criticized the French digital tax aimed at big U.S. technology companies and threatened again to reta
EU chief Tusk says will ‘respond in kind’ if US imposes tariffs on France over digital tax Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-24  Authors: spriha srivastava elizabeth schulze, spriha srivastava, elizabeth schulze
Keywords: news, cnbc, companies, big, million, companies, france, tariffs, imposes, trump, digital, including, kind, eu, tax, tusk, chief, respond, taxing


EU chief Tusk says will 'respond in kind' if US imposes tariffs on France over digital tax

The European Union will “respond in kind” if the U.S. imposes tariffs on France over digital tax plan, Donald Tusk, president of the European Council said on Saturday.

Speaking at the G-7 leaders meet in Biarritz in France, Tusk said if President Donald Trump uses tariffs for political reasons then it can be risk for the whole world, including the EU, Reuters reported.

Earlier on Saturday, Trump criticized the French digital tax aimed at big U.S. technology companies and threatened again to retaliate by taxing French wine.

Speaking to reporters at the White House before leaving for a Group of Seven summit in France, Trump said he is not a “big fan” of tech companies but “those are great American companies and frankly I don’t want France going out and taxing our companies.”

“And if they do that … we’ll be taxing their wine like they’ve never seen before,” he said according to Reuters.

France passed a 3% tax in July that targets roughly 30 big tech companies including Facebook, Amazon and Google. The levy applies to companies with more than 750 million euros ($830 million) in annual revenues from “digital activities,” including 25 million euros ($27 million) from within France.


Company: cnbc, Activity: cnbc, Date: 2019-08-24  Authors: spriha srivastava elizabeth schulze, spriha srivastava, elizabeth schulze
Keywords: news, cnbc, companies, big, million, companies, france, tariffs, imposes, trump, digital, including, kind, eu, tax, tusk, chief, respond, taxing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

EU drafts plan for hundred billion-dollar fund to take on US tech firms, reports say

Ursula von der Leyen, incoming president of the European Commission, left, speaks during news conference at the European Parliament, in Strasbourg, France, on Tuesday, July 16, 2019. European Union officials drafted a plan to launch a sovereign wealth fund to invest in companies that could compete with U.S. and Chinese tech giants, according to reports in the Financial Times and Politico. The reports, citing an internal document, said EU officials have drafted a document for a “European Future F


Ursula von der Leyen, incoming president of the European Commission, left, speaks during news conference at the European Parliament, in Strasbourg, France, on Tuesday, July 16, 2019. European Union officials drafted a plan to launch a sovereign wealth fund to invest in companies that could compete with U.S. and Chinese tech giants, according to reports in the Financial Times and Politico. The reports, citing an internal document, said EU officials have drafted a document for a “European Future F
EU drafts plan for hundred billion-dollar fund to take on US tech firms, reports say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: elizabeth schulze
Keywords: news, cnbc, companies, invest, say, companies, eu, tech, european, firms, plan, officials, giants, ft, fund, billiondollar, reports, document, drafts


EU drafts plan for hundred billion-dollar fund to take on US tech firms, reports say

Ursula von der Leyen, incoming president of the European Commission, left, speaks during news conference at the European Parliament, in Strasbourg, France, on Tuesday, July 16, 2019.

European Union officials drafted a plan to launch a sovereign wealth fund to invest in companies that could compete with U.S. and Chinese tech giants, according to reports in the Financial Times and Politico.

The reports, citing an internal document, said EU officials have drafted a document for a “European Future Fund” that would invest 100 billion euros ($110 billion) in “high-potential European companies.”

The proposal would mark a drastic step from the EU to try to encourage companies within the continent to catch up with competitors from the U.S. and China. The FT said the document specifically named threats from U.S. tech giants Google, Apple, Facebook and Amazon and Chinese firms Baidu, Alibaba and Tencent.

“Europe has no such companies,” the FT quoted the document as saying. “This presents a risk to growth, jobs, and to Europe’s influence in key strategic sectors.”


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: elizabeth schulze
Keywords: news, cnbc, companies, invest, say, companies, eu, tech, european, firms, plan, officials, giants, ft, fund, billiondollar, reports, document, drafts


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stuck between EU leaders and Trump, Boris Johnson could have a very awkward G-7 summit

When some of the world’s most powerful leaders meet in France this weekend for the Group of Seven (G-7) summit, the focus will be on how well (or badly) they get along given a backdrop of widespread disagreements and divergent policies over global trade and geopolitics. Prime Minister Boris Johnson will be in the spotlight as the meeting in Biarritz will be the first he has attended since becoming the U.K.’s leader in July. He will also find himself meeting President Donald Trump, one of the mos


When some of the world’s most powerful leaders meet in France this weekend for the Group of Seven (G-7) summit, the focus will be on how well (or badly) they get along given a backdrop of widespread disagreements and divergent policies over global trade and geopolitics. Prime Minister Boris Johnson will be in the spotlight as the meeting in Biarritz will be the first he has attended since becoming the U.K.’s leader in July. He will also find himself meeting President Donald Trump, one of the mos
Stuck between EU leaders and Trump, Boris Johnson could have a very awkward G-7 summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: holly ellyatt
Keywords: news, cnbc, companies, eu, boris, trump, uk, stuck, leaders, g7, awkward, brexit, summit, trying, trade, france, europe, johnson


Stuck between EU leaders and Trump, Boris Johnson could have a very awkward G-7 summit

When some of the world’s most powerful leaders meet in France this weekend for the Group of Seven (G-7) summit, the focus will be on how well (or badly) they get along given a backdrop of widespread disagreements and divergent policies over global trade and geopolitics.

Prime Minister Boris Johnson will be in the spotlight as the meeting in Biarritz will be the first he has attended since becoming the U.K.’s leader in July. The summit comes at a delicate and uncertain time for the U.K. as its relationship with its closest neighbor Europe undergoes a seismic shift with Brexit, and it looks to the U.S for closer trade ties.

At the G-7, Johnson will find himself face-to-face with the leaders of France, Germany and Italy who, along with the rest of the other 27-countries in the EU, have essentially told him that the Brexit deal he inherited from his predecessor Theresa May is the only one on offer and cannot be changed.

He will also find himself meeting President Donald Trump, one of the most contentious leaders to represent the U.S. at the G-7 in years, to discuss a potential post-Brexit trade deal.

In sum, the U.K. finds itself in a tricky position — at the same time that it is trying to court EU leaders before a October 31 deadline for Brexit, it is trying to woo Trump — not the most popular person in Europe right now.

Trump has signaled that Europe could be the next target when it comes to what he sees as unfair global trade practices against the U.S. In May, he accused the EU of treating the U.S. “worse than China” and he has threatened its car industry with a 25% tariff.

So low are expectations of any substantial agreements between the leaders of the U.S., U.K., Canada, France, Germany, Italy and Japan that the French President Emmanuel Macron, hosting the event, has said there will be no final communique on shared commitments that might have been arrived at the summit.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: holly ellyatt
Keywords: news, cnbc, companies, eu, boris, trump, uk, stuck, leaders, g7, awkward, brexit, summit, trying, trade, france, europe, johnson


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

A quick US trade deal won’t help Britain avoid Brexit damage, economists say

A possible trade deal with the U.S. will do little to mitigate the impact of Britain leaving the EU without a deal in place, economists have told CNBC. In the event of a no-deal Brexit, the U.K. would lose this tariff-free access and would have to trade under World Trade Organization (WTO) rules. In order to avoid this, the U.K. government is trying to replicate many of the EU’s existing trade deals with other territories. It will, however, also need to renegotiate a trade deal with the EU in or


A possible trade deal with the U.S. will do little to mitigate the impact of Britain leaving the EU without a deal in place, economists have told CNBC. In the event of a no-deal Brexit, the U.K. would lose this tariff-free access and would have to trade under World Trade Organization (WTO) rules. In order to avoid this, the U.K. government is trying to replicate many of the EU’s existing trade deals with other territories. It will, however, also need to renegotiate a trade deal with the EU in or
A quick US trade deal won’t help Britain avoid Brexit damage, economists say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: elliot smith
Keywords: news, cnbc, companies, damage, uk, deal, deals, help, say, brexit, economists, britain, eu, quick, trade, imports, pickering, political, wont, offset, told


A quick US trade deal won't help Britain avoid Brexit damage, economists say

A possible trade deal with the U.S. will do little to mitigate the impact of Britain leaving the EU without a deal in place, economists have told CNBC. Both the U.K. and U.S. governments have expressed a desire to forge a partial deal on trade as soon as possible after Britain’s anticipated departure from the EU on October 31. On a recent visit to London, U.S. national security advisor John Bolton said the U.S. would enthusiastically support a no-deal Brexit should Prime Minister Boris Johnson pursue it, adding that Washington would be ready to work fast on a free trade agreement. However, such an accord faces significant political hurdles on both sides of the Atlantic, while also falling short of the economic reprieve Britain will need to offset the loss of its existing trade arrangements with the EU, economists have argued. Limited impact In 2018, the EU accounted for 46% of all U.K. exports, 54% of all imports, and seven of the U.K.’s 10 largest export markets and sources of imports were from the other 27 EU nations, according to a House of Commons briefing paper published last week. The U.S. accounted for 19% of U.K. exports and 11% of imports, while Germany as a standalone partner represented 9% of exports and 12% of imports. Kallum Pickering, senior economist at Berenberg, told CNBC that given the larger impact on GDP from the quantity of trade with the EU in comparison with the U.S., it is “hard to see how leaving the EU could be offset with a trade deal with the U.S.” “You could add a further layer in the fact that the U.K.’s trade agreement with the EU is free in all senses of the word, on investment, on immigration, on goods and in most services, including finance, whereas the U.K. would presumably be striking with the U.S. a trade deal that covers goods and only partial agreements in services, with very little on immigration,” Pickering said. “So the major things that the U.K. benefits from — attracting lots of FDI (foreign direct investment) from Europe, a high inflow of EU workers boosting the labor force — would not be offset by a trade deal with the U.S,” he added.

The EU has around 40 trade deals covering over 70 countries, meaning the U.K. currently has access to those markets, such as Canada, without having to pay import tariffs on most goods. In the event of a no-deal Brexit, the U.K. would lose this tariff-free access and would have to trade under World Trade Organization (WTO) rules. In order to avoid this, the U.K. government is trying to replicate many of the EU’s existing trade deals with other territories. If Brexit does happen on October 31, the U.K. will be free to sign trade deals with countries which do not have existing agreements with the EU, such as the U.S. Britain has rolled over 13 trade deals so far, most recently with South Korea. Others have included partners with whom trade is historically negligible, such as Central America, Norway and Iceland, Israel and the Pacific Islands. It will, however, also need to renegotiate a trade deal with the EU in order to ensure continued tariff-free access to the world’s largest free-trading bloc. While acknowledging that a trade deal with the U.S. would be advantageous in general terms, Pickering argued that the benefit of an immediate U.S. trade deal upon leaving the EU, in the case of a hard exit, “provides only a limited offset, and that’s being generous.”

Other analysts were similarly skeptical about the practical aspects of a potential deal. Steen Jakobsen, chief economist at Saxo Bank, dismissed the suggestions as “political noise” when speaking to CNBC’s “Squawk Box Europe” on Tuesday, citing the seven-year negotiation to establish the landmark EU-Canada deal as an example of the complexity of the process. Altaf Kassam, EMEA head of investment strategy and research at State Street Global Advisors, pointed to the White House’s recent handling of trade negotiations as an ominous sign for any prospective trade deal. “Boris Johnson and Donald Trump have some kind of rapport, and that’s a good thing, but if you see the way the U.S.-China trade negotiations have gone, it’s never going to be a slam dunk for the U.K. This is going to drag on,” he told CNBC earlier this week. Political wall The politics of the deal have emerged front and center of late. Senate Minority Leader Chuck Schumer on Monday vowed to oppose any post-Brexit trade deal with the U.K. that would risk Northern Ireland’s peaceful status quo by reinstalling a hard southern border with the Republic of Ireland, which will remain part of the EU. U.K. leader Johnson has made eradicating the Irish “backstop” the key non-negotiable in his attempt to return to the table with European leaders. The “backstop” is seen as a way to keep the porous border between the Republic of Ireland and Northern Ireland (which is a part of the U.K.) open in the event that the U.K. and EU fail to agree a future trade deal at the end of a 21-month transition period. Its unpopularity with pro-Brexit lawmakers stems from its requirement that the U.K. remains in a single customs territory with the EU for an indefinite amount of time.


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: elliot smith
Keywords: news, cnbc, companies, damage, uk, deal, deals, help, say, brexit, economists, britain, eu, quick, trade, imports, pickering, political, wont, offset, told


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The UK, EU are like two trains ‘heading towards each other’

The UK, EU are like two trains ‘heading towards each other’14 Hours AgoPhil Radford, a contributor at BrexitCentral, says a no-deal Brexit is looking “highly probable” because the U.K. and EU have “fundamentally contradictory” objectives when it comes to Brexit.


The UK, EU are like two trains ‘heading towards each other’14 Hours AgoPhil Radford, a contributor at BrexitCentral, says a no-deal Brexit is looking “highly probable” because the U.K. and EU have “fundamentally contradictory” objectives when it comes to Brexit.
The UK, EU are like two trains ‘heading towards each other’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07
Keywords: news, cnbc, companies, uk, brexit, trains, objectives, radford, probable, looking, eu, nodeal, other14, heading


The UK, EU are like two trains 'heading towards each other'

The UK, EU are like two trains ‘heading towards each other’

14 Hours Ago

Phil Radford, a contributor at BrexitCentral, says a no-deal Brexit is looking “highly probable” because the U.K. and EU have “fundamentally contradictory” objectives when it comes to Brexit.


Company: cnbc, Activity: cnbc, Date: 2019-08-07
Keywords: news, cnbc, companies, uk, brexit, trains, objectives, radford, probable, looking, eu, nodeal, other14, heading


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘No-deal’ Brexit chances rise as EU reportedly claims the UK has no other plan

The prospect of the U.K. leaving the European Union without any agreement or a framework for future relations looks increasingly likely. Reports in U.K. media suggest that a meeting between senior EU and U.K. diplomats has left Brussels with the firm impression that a no-deal Brexit is now the “central scenario” of the new U.K. Prime Minister Boris Johnson. The Bank of England has said if the U.K. does leave with no plan, there is a one-in-three chance of a U.K. recession. The spokesperson claim


The prospect of the U.K. leaving the European Union without any agreement or a framework for future relations looks increasingly likely. Reports in U.K. media suggest that a meeting between senior EU and U.K. diplomats has left Brussels with the firm impression that a no-deal Brexit is now the “central scenario” of the new U.K. Prime Minister Boris Johnson. The Bank of England has said if the U.K. does leave with no plan, there is a one-in-three chance of a U.K. recession. The spokesperson claim
‘No-deal’ Brexit chances rise as EU reportedly claims the UK has no other plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: david reid
Keywords: news, cnbc, companies, britain, backstop, ready, eu, uk, claims, union, willing, spokesperson, deal, nodeal, plan, reportedly, chances, brexit, ireland, rise


'No-deal' Brexit chances rise as EU reportedly claims the UK has no other plan

An anti-Brexit activist flies an EU flag during a demonstration outside of the Houses of Parliament in London on February 28, 2019.

The prospect of the U.K. leaving the European Union without any agreement or a framework for future relations looks increasingly likely.

Reports in U.K. media suggest that a meeting between senior EU and U.K. diplomats has left Brussels with the firm impression that a no-deal Brexit is now the “central scenario” of the new U.K. Prime Minister Boris Johnson.

Sterling has slipped in value over recent weeks in response to the fresh assertive line coming from Downing Street, sitting near two-year lows at around 1.22 versus the dollar.

Johnson sent his envoy to Brussels last week with the specific message that unless European officials ditch their commitment to the Irish backstop, then Britain will leave without any deal. The Bank of England has said if the U.K. does leave with no plan, there is a one-in-three chance of a U.K. recession.

The backstop is an arrangement designed to ensure no hard border is erected on the island of Ireland between the Republic of Ireland and Northern Ireland. Both sides of the debate have insisted they will not build border infrastructure but euroskeptic lawmakers in the U.K. are against any backstop, claiming it would keep Britain perpetually tied to a customs union with the EU.

On Tuesday, a U.K. government spokesperson, speaking to reporters on the condition of anonymity, suggested that Britain remained ready and willing to do a deal with Europe before the deadline of October 31.

The spokesperson claimed it was “sad” that Europe would not enter into fresh negotiations and that the U.K. government was “ready and willing” to talk.

Prior to those comments, The Guardian newspaper reported that EU officials don’t believe the U.K. realistically wants to explore any new deal, claiming that Britain “does not have another plan.”


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: david reid
Keywords: news, cnbc, companies, britain, backstop, ready, eu, uk, claims, union, willing, spokesperson, deal, nodeal, plan, reportedly, chances, brexit, ireland, rise


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump announces deal to expand US beef exports in the EU — and jokes about Mercedes, BMW tariffs

President Donald Trump announced an agreement Friday to boost beef exports to the European Union. Surrounded by trade officials and beef industry representatives at the White House, Trump signed a deal to “lower trade barriers in Europe and expand market access for American farmers and ranchers.” “This is a tremendous victory for American farmers, ranchers and of course, European consumers,” the president said at the White House as he unveiled the deal. The agreement comes as the agriculture ind


President Donald Trump announced an agreement Friday to boost beef exports to the European Union. Surrounded by trade officials and beef industry representatives at the White House, Trump signed a deal to “lower trade barriers in Europe and expand market access for American farmers and ranchers.” “This is a tremendous victory for American farmers, ranchers and of course, European consumers,” the president said at the White House as he unveiled the deal. The agreement comes as the agriculture ind
Trump announces deal to expand US beef exports in the EU — and jokes about Mercedes, BMW tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: jacob pramuk
Keywords: news, cnbc, companies, industry, trump, expand, deal, jokes, mercedes, president, million, agreement, eu, white, bmw, beef, trade, exports, tariffs, farmers, ranchers


Trump announces deal to expand US beef exports in the EU — and jokes about Mercedes, BMW tariffs

President Donald Trump announced an agreement Friday to boost beef exports to the European Union.

Surrounded by trade officials and beef industry representatives at the White House, Trump signed a deal to “lower trade barriers in Europe and expand market access for American farmers and ranchers.” Over the course of the agreement, annual duty-free U.S. beef exports to the EU are expected to nearly triple to $420 million from $150 million, according to the Office of the U.S. Trade Representative.

“This is a tremendous victory for American farmers, ranchers and of course, European consumers,” the president said at the White House as he unveiled the deal.

The agreement comes as the agriculture industry has taken a hit from Trump’s ongoing trade war with China. The president has tried to limit the economic and political damage from the conflict ahead of the 2020 election. His administration recently announced details of a $16 billion aid package for farmers affected by the trade conflict.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: jacob pramuk
Keywords: news, cnbc, companies, industry, trump, expand, deal, jokes, mercedes, president, million, agreement, eu, white, bmw, beef, trade, exports, tariffs, farmers, ranchers


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

EU nominates Kristalina Georgieva as the next IMF chief

The European Union has nominated Kristalina Georgieva to lead the International Monetary Fund (IMF), ending weeks of impasse among 28 countries. Last month, Christine Lagarde resigned as the managing director of IMF to take on a new role as the next head of the European Central Bank (ECB). The candidates in the running also included:Jeroen Dijsselbloem, former Dutch finance minister and president of the Eurogroup (which brings together the 19-euro zone finance ministers). Their trade war is seen


The European Union has nominated Kristalina Georgieva to lead the International Monetary Fund (IMF), ending weeks of impasse among 28 countries. Last month, Christine Lagarde resigned as the managing director of IMF to take on a new role as the next head of the European Central Bank (ECB). The candidates in the running also included:Jeroen Dijsselbloem, former Dutch finance minister and president of the Eurogroup (which brings together the 19-euro zone finance ministers). Their trade war is seen
EU nominates Kristalina Georgieva as the next IMF chief Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: silvia amaro
Keywords: news, cnbc, companies, kristalina, nominates, european, war, head, eu, zone, finance, imf, trade, georgieva, central, chief, world


EU nominates Kristalina Georgieva as the next IMF chief

The European Union has nominated Kristalina Georgieva to lead the International Monetary Fund (IMF), ending weeks of impasse among 28 countries.

Georgieva, from Bulgaria, is currently serving as chief executive of the World Bank.

Last month, Christine Lagarde resigned as the managing director of IMF to take on a new role as the next head of the European Central Bank (ECB). European officials found themselves in a standoff and decided to take a vote in order to nominate the most-favored candidate.

The candidates in the running also included:

Jeroen Dijsselbloem, former Dutch finance minister and president of the Eurogroup (which brings together the 19-euro zone finance ministers).

Nadia Calvino, the Spanish finance minister.

Olli Rehn, central bank governor of Finland and former European commissioner for the euro.

IMF member countries can make nominations until September 6. After that, the IMF board will interview the nominated candidates and aim to complete the process of selecting IMF’s new head by October 4.The IMF has always been led by a European, since the institution’s creation. In contrast, the United States get to appoint the president of the World Bank.

Back in 2011, when Christine Lagarde was appointed to lead the IMF, there were two main topics to deal with: rebuilding the reputation of the IMF after a scandal involving its previous chief and supporting the euro zone during the sovereign debt crisis. Now, the global landscape is arguably more complex than eight years ago.

The U.S. and China have been on a trade dispute for about two years. Their trade war is seen as the biggest stumbling block to global growth. At the same time, there is a strong focus on monetary policy – how central banks decide to support the various economies and whether their tools are still effective after nearly a decade since the sovereign debt crisis.

“Whoever is going to head the IMF needs to be ready to go to war. The war is trade war, currency war – those are emerging risks that need to be addressed,” Mouhammed Choukeir, chief Investment officer at Kleinwort Hambros told CNBC earlier this week.


Company: cnbc, Activity: cnbc, Date: 2019-08-02  Authors: silvia amaro
Keywords: news, cnbc, companies, kristalina, nominates, european, war, head, eu, zone, finance, imf, trade, georgieva, central, chief, world


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The EU has new people in charge. And it’s not good news for US tech firms

New officials at the heart of the EU will likely keep America’s big tech firms under close scrutiny, experts have told CNBC. It has also proposed different laws that seek to limit online content and there’s little evidence that anything will change under the EU’s new leadership. Dexter Thillien, a senior industry analyst at Fitch Solutions, told CNBC via telephone Wednesday that Europe is keen to continue to be seen as the global leading force in tech regulation. Thillien explained that Europe s


New officials at the heart of the EU will likely keep America’s big tech firms under close scrutiny, experts have told CNBC. It has also proposed different laws that seek to limit online content and there’s little evidence that anything will change under the EU’s new leadership. Dexter Thillien, a senior industry analyst at Fitch Solutions, told CNBC via telephone Wednesday that Europe is keen to continue to be seen as the global leading force in tech regulation. Thillien explained that Europe s
The EU has new people in charge. And it’s not good news for US tech firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: silvia amaro
Keywords: news, cnbc, companies, tech, regulation, eus, told, charge, europe, thillien, good, eu, global, theres, valley, firms


The EU has new people in charge. And it's not good news for US tech firms

New officials at the heart of the EU will likely keep America’s big tech firms under close scrutiny, experts have told CNBC.

The European Commission — the EU’s executive arm — has fined companies such as Google and Apple for disrespecting its competition rules and is currently investigating Amazon. It has also proposed different laws that seek to limit online content and there’s little evidence that anything will change under the EU’s new leadership.

Dexter Thillien, a senior industry analyst at Fitch Solutions, told CNBC via telephone Wednesday that Europe is keen to continue to be seen as the global leading force in tech regulation. Thillien explained that Europe saw a loophole in global tech regulation and felt the need to act. “Europeans have all the negatives but none of the positives,” he said, referring to the fact that Europe has not created any large tech firms but has had to deal with the presence of Silicon Valley behemoths.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: silvia amaro
Keywords: news, cnbc, companies, tech, regulation, eus, told, charge, europe, thillien, good, eu, global, theres, valley, firms


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post