Longer-Term Implications of Brexit

As the United Kingdom fast approaches its official exit from the European Union, the Peterson Institute for International Economics held an event on March 23, 2017, to discuss the longer-term implications of Brexit. Jonathan Portes, professor at King's College London and one of the most widely cited experts on Brexit and migration issues in British public life, gave a presentation on the longer-term financial and macroeconomic impact of Brexit. A discussion panel with PIIE experts Simeon Djankov, Jacob Funk Kirkegaard, and Nicolas Véron analyzed the impact of Brexit on the City of London and European financial markets, and on migration flows and policy throughout Europe. The event featured two new PIIE Policy Briefs, Making the Best of Brexit for the EU-27 Financial System by Véron and others, and The City of London after Brexit by Djankov.

Jonathan Portes is professor of economics and public policy at King's College London and is senior fellow of The UK in a Changing Europe, the authoritative source in the United Kingdom for independent research on Brexit.

Simeon Djankov, nonresident senior fellow, was deputy prime minister and minister of finance of Bulgaria from 2009 to 2013. Prior to his cabinet appointment, he was chief economist of the finance and private sector vice presidency of the World Bank. Previously he was rector of the New Economic School in Russia and a visiting lecturer at Harvard University's Kennedy School of Government. Djankov is director of the Financial Markets Group at the London School of Economics.

Jacob Funk Kirkegaard, senior fellow, has been associated with the Institute since 2002. Before joining the Institute, he worked with the Danish Ministry of Defense, the United Nations in Iraq, and in the private financial sector. He is coeditor of Transatlantic Economic Challenges in an Era of Growing Multipolarity (2012), and coauthor of Transforming the European Economy (2004), among other works notably on demographics, migration, and economic performance.

Nicolas Véron, visiting fellow at the Institute since October 2009, is also a senior fellow at Bruegel. He was previously a corporate adviser to France's labor minister from 1997 to 2000, and a chief financial officer of the publicly listed internet company MultiMania / Lycos France from 2000 to 2002. He is coauthor of Smoke and Mirrors, Inc.: Accounting for Capitalism (2006). He is one of the earliest and most widely cited advocates of banking union in Europe.