|
Remarks by Jeroen Dijsselbloem & VP Rehn at Eurogroup press conference
The Eurogroup's main priorities for the coming months will be i.a.: to complete the Banking Union; to finalise the operational framework for the ESM direct recapitalisation instrument; and to finalise the SRM/SRF negotiations.
View Article
|
Bundesbank calls for capital levy to avert government bankruptcies
Germany's Bundesbank said that countries about to go bankrupt should draw on the private wealth of their citizens through a one-off capital levy before asking other states for help.
View Article
|
Bundesbank/Dombret: Striving to achieve stability – Regulations and markets in the light of the crisis
Dombret spoke on the balance between market forces and regulation, pointing out the grey area of systemic risk and necessity for resolution mechanisms. He proposed a ceiling on lending to any one government, and said further regulation was needed in the area of shadow banking and insurance.
View Article
|
GCC could delay its ruling on the OMT until April
The German Constitutional Court could delay its ruling on the OMT, the ECB bond-buying programme, until April due to serious disagreements in the second Senate of the court. Bank of America says there is a "relatively high" risk that the Court will rule that the OMT is illegal as designed.
View Article
|
Katinka Barysch: Europe's top-down myopia
Writing for Project Syndicate, Barysch argues that the eurozone does not need fiscal or political union; the institutional framework just needs to be strong enough to enable markets to (re)act, while offering real help to countries that find themselves temporarily in trouble.
View Article
|
Bruegel/Merler: Banking Union and beyond
The economic session of the Brussels Think Tank Dialogue 2014 reviewed the progress on Banking Union so far and asked what else was missing in the EMU architecture to complement and enhance the reforms on the financial side.
View Article
|
Pâris & Wyplosz: The PADRE plan - Politically Acceptable Debt Restructuring in the Eurozone
The PADRE plan would substantially lower eurozone nations' debts without cross-nation transfers and with limited moral hazard. The financing is simple. Each eurozone member's debt is reduced by the securitisation of its own share of ECB seignorage.
View Article
|
IMF/Viñals: Finish the job on financial regulation
Writing on the IMF's blog, Viñals says that big banks still pose a threat to the world financial system because there is a general assumption that governments will come to their rescue in case of trouble
View Article
|
Peterson Institute/Rediker & Ubide: The IMF is courting new risks with a change in policy on debt restructuring
The IMF is expected to release shortly a follow up to last year's controversial staff paper on sovereign debt restructuring, which could dramatically alter how countries borrow and the risks for investors who lend to them. This is likely to create more problems than it solves.
View Article
|
Results of the ECOFIN Council: SSM, Presidency work programme
The Council was briefed by the ECB on implementation of the EU's single supervisory mechanism for banks. Supporting economic growth and employment and restoring confidence in the financial sector are the main objectives of the Hellenic Presidency.
View Article
|
European Commission: TTIP - Cooperation on financial services regulation
The EU believes it is in the interests of both the EU and US to agree within the TTIP on a framework for regulatory coherence in financial services.
View Article
|
Reuters: Eurozone may scrap option of direct bank recapitalisation in 10 years
Eurozone governments are considering inserting a "review clause" into their agreement on the direct recapitalisation of banks so that they can reverse or renegotiate the deal in the coming years.
View Article
|
Bundesbank/Dombret: The state as a banker?
Dombret called for credible bail-in procedures through higher capital buffers. He maintained that the state was not a good banker, and that it should only take on this role in exceptional cases.
View Article
|
WEF 2014: Rebuilding banking in Europe
With capital flows sharply in reverse, how should Europe's banking system be reformed? Speakers at the WEF on this topic included Wolfgang Schäuble, Lord Turner, Olli Rehn and Jeroen Dijsselbloem.
View Article
|