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Graham Bishop is renowned for his vision and the courage to propose radical ideas, yet ground them in a mastery of the technical details of the financial system. He has been referred to as a one-man think tank.
European Commission: His influence at the meeting point of politics, economics and finance has been recognised on many occasions - most recently when the European Commission asked him to study the attitudes of investors toward the euro area sovereign bond markets. In particular, he explored attitudes towards the potential for a “common euro area safe asset”: what characteristics should it possess and whether it would ameliorate any of the concerns expressed about the features of existing bond markets.
Graham's many pro bono activities illuminate and reinforce his Consultancy Services. His deep knowledge of Europe’s financial system is integrated with his understanding of EU economic and budgetary policy-making – whilst set within the necessary framework of democratic accountability.
He was a member of the Commission's Consultative Group on the Impact of the Euro on Capital Markets; of the Commission's Strategy Group on Financial Services; and of the Committee of Independent Experts on the preparation of the changeover to the single currency (1994/5).
This Website, as well as Graham's Consultancy Service, is designed to bring clients the direct insights that flow from Graham’s position as a leading technical analyst of economic and structural developments in the financial markets of Europe.
"Institutional investors and major financial firms now face a huge commercial challenge in Europe. The vision of political integration has entered a critical phase: ...."
"..analysis of obscure bureaucratic manoeuvrings towards fiscal union, labour mobility and tax co-ordination etc. is quite outside the comfort zone of many..."
"It is now entirely foreseeable that governments may make potentially far-reaching changes that would impact the valuation of European financial assets, as well as reforming the nature of the regulations governing key parts of the financial sector’s business".
"..So the consequences of this crisis will be historic – and will reverberate around global financial markets. The stakes for participants in European financial markets could not be higher.."
Consultancy services can take many forms: face-to-face meetings, telephone discussions, written comments, speeches, special articles, customised research projects, etc.
Highlights of the week: The onset of Easter has lightened the news flow but some serious issues have surfaced: the German Constitutional Court has put a probably-temporary road-block in the way of the RRF; the ESAs have warned of the risks ahead to both banks’ asset quality and the liquidity of investment funds; the Commission is consulting on its plans to remove blockages to instant payments.
However, the extraordinary speed and magnitude of Archegos’ collapse underline the risks that the financial system must be able to withstand. That may typify the moment when `regulatory co-operation’ may have to be tested in earnest: whose judgement call? Who will pay if it turns out to be the wrong call? Can they be trusted to pay? These are the deeply-buried issues at the heart of the Brexit debate on derivatives regulation and the agreed (but unpublished) MoU probably does not allay all such fears.
Graham Bishop
(We will now take a short break over Easter and publish the next Newsletter on 14th April)
General Financial Policy
Work begins on the Conference on the Future of Europe : The work on the Conference on the Future of Europe has officially started with the constitutive meeting of the Executive Board held on 24 March. View Article
Opinion article by Eurogroup President, Paschal Donohoe - To compare the EU and US pandemic packages misses the point : Comparisons diminish the significant and historic efforts taken to boost our economies, and to develop and rollout vaccines at unprecedented speed. View Article
Banking Union
European Commission: Targeted consultation on instant payments : This targeted consultation will inform the Commission on remaining obstacles as well as possible enabling actions that it could take to ensure a wide availability and use of instant payments in the EU. View Article
Capital Markets Union
Environmental, Social, Governance (ESG)
Protecting Customers
Fin Tech Regulation
Brexit
Reuters: Britain and EU strike financial services cooperation pact : Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to co-operate on regulation but does little to improve the City of London’s access to the bloc. View Article
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