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Briferendum Aftermath Series: Tussles with EU on EMA and EBA

Those of you, who are thinking that after the election win for Theresa May, the negotiations on Brexit, will be as easy as cutting butter with a hot knife should read about the ongoing tussles between the UK government and the European Union over EMA and EBA.

EMA stands for European Medicines Agency, which is currently located in London and where 36,000 national regulators and scientists came every year to approve their drugs. EBA stands for European Banking Authority that sets the rules and regulations for the banking industries in the European continent. After the UK’s Brexit secretary David Davis said that despite the divorce the UK can keep these two agencies in London and their relocation will be a part of the Brexit negotiations, the European Commissioned rejected the idea and said that the outgoing UK has no say over the location of these agencies. The spokesman for the European Commission president Jean-Claude Juncker said, “The decision to relocate the EMA and the EBA is a decision for the 27 member states to take. It is not part of the Brexit negotiations; it is rather a consequence of Brexit”.

The commission instead suggested that Britain should play its part in the relocation. The Commission called on the two sides to make a decision on relocation soon as possible and for the UK to help staff at the institutions as they relocate to the continent

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October 18 14:30 UTC Released

BRForeign Exchange Flows*

Actual

1.261 Bln USD

Forecast

Previous

0.980 Bln USD

October 18 13:00 UTC Released

RUReal Wages YY

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2.6 %

Forecast

3.9 %

Previous

3.7 %

October 18 23:50 UTC 328328m

JPForeign Bond Investment

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Forecast

Previous

89.2 Bln JPY

October 18 23:50 UTC 328328m

JPForeign Invest JP Stock

Actual

Forecast

Previous

1235.3 Bln JPY

October 18 23:50 UTC 328328m

JPExports YY*

Actual

Forecast

14.9 %

Previous

18.1 %

October 18 23:50 UTC 328328m

JPImports YY*

Actual

Forecast

15.0 %

Previous

15.2 %

October 18 23:50 UTC 328328m

JPTrade Balance Total Yen*

Actual

Forecast

559.8 Bln JPY

Previous

113.6 Bln JPY

October 19 00:00 UTC 338338m

KRBank of Korea Base Rate*

Actual

Forecast

Previous

1.25 %

October 19 00:00 UTC 338338m

ID7-Day Reverse Repo*

Actual

Forecast

4.25 %

Previous

4.25 %

October 19 00:00 UTC 338338m

IDDeposit Facility Rate*

Actual

Forecast

3.50 %

Previous

3.5 %

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