Activities of Derk Jan EPPINK related to 2020/2023(INI)
Plenary speeches (1)
Preparation of the European Council meeting of 19 June 2020 - Recommendations on the negotiations for a new partnership with the United Kingdom of Great Britain and Northern Ireland (debate)
Shadow opinions (1)
OPINION on recommendations on the negotiations for a new partnership with the United Kingdom of Great Britain and Northern Ireland
Amendments (10)
Amendment 2 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1 a. Believes that it is in the mutual interest of the EU and the UK that the withdrawal of the UK from the EU takes place in an orderly way;
Amendment 3 #
Draft opinion
Paragraph 1 b (new)
Paragraph 1 b (new)
1 b. Considers that, for decades, Europe’s leading financial centre has been the City of London and, in some notable areas such as derivatives clearing and investment banking, the EU’s financial ecosystem has relied heavily on services provided by UK-based banks and market infrastructures;
Amendment 4 #
Draft opinion
Paragraph 2
Paragraph 2
2. Stresses that the full implementation of the Withdrawal Agreement, including the Protocol on Northern Ireland, is a prerequisite for and a basic component of a future partnership between the EU and the UK; expressecalls concern at the UK Government’s statements demonstrating a lack of political will to fully comply with its commitments under the Withdrawal Agreement, namelyincluding regarding border controls in the Irish Sea; notes that no concrete reassurances were given on this matter during the first meeting of the Joint Committee; underlines that mutual trust between the Parties is essential in these negotiations;
Amendment 9 #
Draft opinion
Paragraph 3
Paragraph 3
3. Welcomes the fact that the Commission has presented and published a comprehensive legal proposal for a future relationship, broadly in line with its negotiating mandate and the European Parliament’s resolution, and deeply regrets the factnotes that the UK Government has refused to accept a similar level of transparency;
Amendment 10 #
Draft opinion
Paragraph 4
Paragraph 4
4. Notes the substantial divergences between both Parties at this initial stage of the negotiations, including on the scope and the legal architecture of the text to be negotiated; expresses deep concern attakes note of the limited scope of the future partnership envisaged by the UK Government, and points out that the UK’s proposals fall short of its commitments under the Withdrawal Agreement and the Political Declaration;
Amendment 15 #
Draft opinion
Paragraph 5
Paragraph 5
5. Believes it to be in both Parties’ mutual interests to establish an ambitious future economic partnership covering a wide number of sectors; underlines that, in any case, a level playing field must be ensured and EU standards safeguarded in order to avoid a ‘race to the bottom’ and the acquisition of unfair competitive advantages through the undercutting of levels of protection or other regulatory divergences; considers that any future framework should safeguard fair competition, investor and consumer protection, and the integrity of the single market, while respecting the EU’s regulatory regime and decision-making autonomy;
Amendment 31 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5 a. Warns for the risk that Wall Street could end up as the biggest winner from further financial market fragmentation, leaving European financial stakeholders behind; Believes it therefore to be in both Parties’ mutual interests to retain a smooth cooperation on financial services with integrated capital markets, and by doing so, to keep a strong competitive position in global financial markets;
Amendment 47 #
Draft opinion
Paragraph 6
Paragraph 6
6. Notes that under existing FTAs market access for services is limited and subject to exclusions, reservations and exceptions; Recalls, in the context of financial services, that passporting rights, which are based on mutual recognition and harmonised prudential rules in the internal market, will cease to apply between the EU and the UK at the end of the transitional period; underlines that, thereafter, access to the Europeanrecalls that EU legislation provides for the possibility to consider third-country rules as equivalent based on a proportional and risk-based approach; underlines that, after the transitional period, negotiating parties’ access to each other’s financial markets must be based on equivalence decisions made within the EU’s legal framework;
Amendment 83 #
Draft opinion
Paragraph 7
Paragraph 7
7. Defends the needRecalls the legal possibility to extend the transition period in order to allow enoughmore time to conclude the negotiations on a comprehensive future partnership, while safeguarding citizens’ rights, legal certainty and economic and financial stability.
Amendment 87 #
Draft opinion
Paragraph 7 a (new)
Paragraph 7 a (new)
7 a. Considers that Brexit can create a new momentum for furthering the capital markets union (CMU) project, which could help to channel credit into the real economy in particular for SMEs, further enable private risk sharing, reduce the need for public risk-sharing and complement funding through banks;