eSignature Licitness for Financial Services in European Union

How to eSign a document: e-signature licitness for Financial Services in European Union

good afternoon ladies and gentlemen I was just going to hand over the floor to you commissioner and then we applied for two short questions all right commissioner thank you Dan we know each other too well so um good afternoon everyone good afternoon Chancellor um we know that you're under time pressure so I'm going to be very brief if I can persuade my iPad to cooperate which is Will um as you see we've just signed uh that's the purpose of the Chancellor's visit we've signed a memorandum understanding between the European Union and the United Kingdom and this deals with the regulatory cooperation in financial services I think it's fair to say we've turned a page in our relationship based on the Windsor framework and indeed thanks to the leadership of President Van Der Lyon and vice president marushefkovic and prime minister Rishi sunak this has allowed us to move forward in the spiritual partnership based on trust cooperation and delivering benefits for people on both sides and this mou we've just signed is one example of the benefits of partnership so in concrete terms it sets out a forum that will allow our services DG fisma on our side here at the EU level and hm treasury on the UK case side to meet on a regular basis as we do with other partners including the United States and we expect the first meeting of the Forum to take place this awesome and this structured cooperation will let both sides talk to each other about things like regulatory changes on both sides International developments or risks to financial markets because we share a commitment to financial stability a market integrity and protecting consumers and investors and while the UK is no longer in the EU or indeed in the single Market we still share many of the same issues and challenges like fighting Financial crime supporting sustainable finance and enabling digital Finance so it's really positive that we've had this structured cooperation in place and I now hand over to the chancellor thank you very much commissioner McGinnis we are absolutely delighted on the UK side to be able to sign this memorandum of understanding we also see it as a an important Turning Point um we have a shared interest in Global Financial stability the UK is the biggest Financial Services sector in Europe and we have a particular responsibility to work closely with the EU to make sure that both sides are doing what it takes to make sure that we have that stability that is so important when there are so many difficult events going on around the world we see this very much as not the end of a process but the beginning we think the enhanced dialogue will make possible will make a real and tangible difference on both sides and we also totally agree with you um question McGinnis that we have shared objectives and cooperation is absolutely essential so I think it's an important day for all of us thank you very much Chancellor and commissioner as I said every time for one or two short questions Sam I'm flaming from the financial times could I ask about another um potential What was seen as a potential benefit from Windsor which was Horizon uh it seems that talks on Horizon have have stalled I wonder if that's correct what's going wrong with the talks um because the science community on both sides seem to think that uh every day that's lost with no deal is a lot a day lost to the science community I'm happy to go first um I wouldn't describe them as stalled I think that they are becoming more crunchy as we start to work out precisely what terms for participation in Horizon would be fair to UK taxpayers and work for the UK but I think both sides recognize that it is a successful and very important program and the optimal outcome will be to find a way where participation can work for the UK I think it was very clear at the press conference with prime minister sunak and president vondreline when the Windsor framework was agreed she immediately spoke of Horizon and I think both sides know that there are benefits to have a shared area around science and Innovation I like the word crunchy I'm not involved in the detailed discussions but I think the objective is a shared one and certainly I would encourage more crunching so that we get a result okay Maria thank you so much uh Mr Hunt at the IMF you told me by the end of the year we will beat forecasts the UK economies navigate and now a difficult moment do you still believe he will do better than expected and I wonder this collaboration is it beneficial for both in terms of growth GDP and more work than you can do together thank you um let me go first um I think um at the IMF we said that we thought we would prove the IMF forecasts wrong and the managing director very generously said we had proof them wrong because she came to London and upgraded the UK growth forecast by from memory 0.7 so the UK economy is proving more resilient than many people predicted but inflation is too high and that is the most important challenge we face and we will do what it takes to tackle that and we'll do it working in collaboration with our European friends and allies I mean this is my second meeting with the chancellor I was in London recently where we also had very good conversation I mean we know in this room where the world is so the United Kingdom is no longer in the European Union but we need it after seven years since the referendum to fix our relationship and I think today is an important part of that process but you ask an important point or are there other areas where we cooperate look what we're doing around sanctions against Russia we share common problems so Financial instability in one area of the world has impacts elsewhere so not only is it important that we find a way as we've done with the memorandum to have a structured dialogue and work together we do that with other partners globally because we want to make sure that the financial system remains stable The Challenge and I won't speak for the UK economy for Europe has been covered and this illegal Invasion and yet I would also use the word resilience of our economy despite that including labor pressures across member states what today I think is important and I think this will be the last question so my closing remarks would be that some of you know the memorandum has been around for a little while but we kept it protected so that the ink did not fade so it's very strongly written this allows us now to move forward for our services to be in touch and to establish this biannual structured dialogue where we will be able to tease out many of these issues that impact on our financial system Chancellor thank you um I just think we are having very good discussions and uh crunchy discussions can be friendly discussions and uh that's what will happen let's do a final handshake now if the chance to present something with a crunchy I will worry let's do it thank you very much good afternoon thank you thank you everybody [Music]