Free Republic

Lloyds ​Banking Group has chosen Germany as its European base after Brexit and aims to apply for a licence in the country in a matter of months. It is understood that Lloyds has made a final decision to turn its Berlin branch into a subsidiary, to ensure it has a hub inside the European Union once the UK leaves.

Events are moving so fast in Europe these days, it’s almost impossible to keep up. While much of the attention is being hogged by political developments, including the election in the Netherlands, Reuters published a report warning that the European banking sector may face even higher bad loan risks if the ECB begins to scale back its monetary stimulus programs, something it has already begun, albeit extremely tentatively. The total stock of non-performing loans (NPL) in the EU is estimated at over €1 trillion, or 5.4% of total loans, a ratio three times higher than in other major regions of...

The economic crisis is a chance to relaunch European political integration and bridge the perceived European democratic deficit, the Association of European Journalists said at its 50th international congress last weekend in Italy. … Marco De Andreis, member of the European Council on Foreign Relations think tank, imagines a reform leading to a “light federation”. Summarizing a proposal developed with Italian Senate Vice President Emma Bonino, De Andreis said that government functions such as defense, diplomacy, border control and management of trans-European infrastructure should be transferred to the European Union. In this way, Europe would gain advantages from economies of...