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Brexit and a strong EU

27 Nov 2017

Brexit and a strong EU

From left: Erik Müller, Dr Ulrich Kater, Prof Dr Rainer Haselmann, Dr Alexandra Hachmeister, Paul Maeser, Dr Peter Ptassek

On 22 November 2017, a “Börse im Gespräch” panel discussion was hosted at Frankfurter Wertpapierbörse’s (FWB®, the Frankfurt Stock Exchange) Börsenplatz location. Deutsche Börse Senior General Manager Matthias Fritton hosted the public discussion on “Brexit and a strong EU” – focusing primarily on the German vantage point of the UK’s exit from the EU.

In his introductory speech, Peter Ptassek, Head of the Brexit task force and Deputy Head of the Europe Department in Germany’s Foreign Office, addressed the some 100 guests, primarily representing finance, politics, supervision, associations and academia. He outlined the German government’s official position in the Brexit talks headed by the European Commission’s Chief Negotiator Michel Barnier.

Rainer Haselmann from Goethe University Frankfurt led the panel discussion which followed, featuring speakers Peter Ptassek, Ulrich Kater, Chief Economist at DekaBank, Paul Maeser, Senior Manager of the Federation of German Industries (Bundesverband der deutschen Industrie e.V., BDI), Alexandra Hachmeister, Chief Regulatory Officer at Deutsche Börse AG, and Erik Müller, Eurex Clearing AG CEO.

The speakers agreed that Brexit represents a major challenge for all involved due to the complexity of the issues to be clarified and the uncertainties that abound. All shared the opinion that time is running out and waiting is not an option. The “hope for the best and prepare for the worst” motto came up several times.

Frankfurt as a financial centre was considered to be very well positioned overall to ensure stability. The experts gave the audience an interesting insight into the impact of Brexit as seen by politicians, industrial companies, banks, asset managers, academics and stock exchange and financial market infrastructure providers. The concluding round of questions with the audience was rather animated. In order to enable open exchange, the media was excluded from the event, which was held under the Chatham House Rule; this stipulates that any views expressed by participants during the meeting may be disclosed externally but only on the condition that the identity of the speaker is not revealed.

A further event in this series dealing with the same issue but focusing on the European perspective will be held in February 2018.

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