“For the first time in more than three years since the U.K. voted to leave the European Union, a majority of British MPs accepted an exit plan.” – by Emilio Casalicchio and David Herszenhorn
EU
U.S. to Tax European Aircraft, Agriculture and Other Goods (NY Times)
“The Trump administration said Wednesday that it would impose tariffs on European aircraft, French wine and cheese, Spanish olive oil and other goods starting Oct. 18, after the World Trade Organization granted the United States permission to tax as much as $7.5 billion of European exports annually.” – by Ana Swanson
Negative interest rates, by country (FT)
“Today, Jean Pierre Mustier, chief executive of Italian lender UniCredit, called for banks to stop complaining about negative rates.” – by Thomas Hale
ECB tiering little relief for squeezed banks (IFR)
“Another European Central Bank stimulus package looks set to keep eurozone interest rates negative for longer and tighten the squeeze on the region’s banks, heaping more pain on German lenders in particular.” – by Gareth Gore and Steve Slater
Meet the commissioners (Politico)
“Ursula von der Leyen has unveiled her picks for the next European Commission.” – by Lili Bayer, Hannah Brenton et. al
EU disunity on US’s anti-Nord Stream 2 push (Politico)
“The European Commission doesn’t like the Nord Stream 2 gas pipeline. But it also doesn’t like the idea of the U.S. imposing sanctions to stop the Russia-backed project.” – by Anca Gurzu
Greece Liked to Underestimate Kyriakos Mitsotakis. Now He’s Prime Minister (New York Times)
“Mr. Mitsotakis, who was quickly sworn in on Monday and was expected to name his cabinet later in the day, will need to win over those who believe he lacks the competence to deal with the complexities of Greece’s huge economic and social challenges.” – by Matina Stevis-Gridneff
Populism, The European Elections, and The Future of E.U. Foreign Policy (War on the Rocks)
“The most dangerous outcome of populist influence in the European Parliament is that the European Union will become paralyzed and irrelevant on the international scene, assuming the European populists are not able to develop a coherent project aimed at founding an alternative European Union.” – by Maya Kandel and Caroline Gondaud
What is in store for the EU’s trade relationship with the US ? (Bruegel)
“If faced with a resurgent President Trump after the next US election, the EU will have some difficult decisions to make as it is compelled to enter a one-sided negotiation. Failure to strike a deal will imperil the world’s largest trade relationship and contribute to the progressive unravelling of the rules enshrined in the World […]
Theresa May loses control of Brexit policy (The Independent)
“Theresa May has finally lost control of Brexit after her deal was once again defeated in parliament by a huge margin on a catastrophic night for her plans.” – by Joe Watts