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Currently a UK-authorized bank, insurer or securities firm has the right to carry on business in another EEA state without further authorization. This passporting right allows UK firms to access European markets and over 2000 UK investment firms benefit from a passport under MiFID. UK firms will lose this right if it exits the EU without mutual recognition.
The post Brexit in the city: what would be the impact of the UK becoming a third country state? appeared first on OUPblog.
In 2008 Iceland experienced one of the worst financial crises in history, which involved the collapse of all three of its major commercial banks. The causes of this collapse were numerous and complex, and included the banks’ difficulty in refinancing their short-term debt and a run on their deposits.
The post The Icelanders, the Cypriots, and the Greeks: is history repeating itself? appeared first on OUPblog.
