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26 March 2015

Brexit 'Weekly'


Greece, Brexit, ECON, Hill, CMU, Tax, ECB

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  Articles from 19 March 2015 - 26 March 2015

  Grahams Articles, Comments & Speeches
 
 
108th Brussels for Breakfast
Hosted by the BBA and organised by the CSFI – with Graham Bishop and Bob Penn (Allen and Overy) and Raoul Ruparel (Open Europe). Main topics included: Grexit, ECJ judgement on ECB/CCP, Brexit, CMU, MiFID and IFRS.  View Article
 
  Political
 
 
Reuters: Greece says will receive funds once reforms are submitted to Eurogroup
Greek Prime Minister Alexis Tsipras held late-night crisis talks in Brussels with senior European figures including German Chancellor Angela Merkel with Athens saying that it would soon present a full set of economic reforms to release funds.  View Article
European Parliament: Greece should resume policy dialogue and agree on reforms, Draghi tells MEPs
The European Central Bank’s expanded asset purchase programme, better known as “quantitative easing” (QE), is starting to make headway across the EU, ECB President Mario Draghi told Economic and Monetary Committee MEPs on 23 March.   View Article
Reuters: Greece not entitled to 1.2 billion euros from bank recap - EFSF
But the officials, who form the board of the euro zone bailout fund EFSF and, at the same time, the Eurogroup Working Group that serves euro zone finance ministers, said they would consider further how to deal with the issue in the future.  View Article
Reuters: Greece to present reforms package by March 30 - government spokesman
Sakellaridis said the package of reforms Athens will propose will not contain recessionary measures but structural changes.  View Article
Statement by the Presidents of the European Council, the European Commission and the Eurogroup on Greece
"Within the framework of the Eurogroup agreement of 20 February 2015, the Greek authorities will have the ownership of the reforms and will present a full list of specific reforms in the next days."  View Article
Report by President Donald Tusk to the European Parliament on the March European Council 2015
Among the topics tackled in the summit were energy union, foreign affairs, the euro area economy and Greece.   View Article
Open Europe: What if...? The Consequences, challenges and opportunities facing Britain outside the EU
According to Open Europe's comprehensive new report, UK GDP could be 2.2% lower in 2030 if Britain leaves the EU and fails to strike a deal with the EU or reverts into protectionism.  View Article
Reuters: Leaving EU would be 'disastrous' for Britain - Standard Life chairman
"It would be disastrous for London and the UK if the UK were to leave the single market," Gerry Grimstone told a conference on how to maintain Britain's competitiveness as a financial centre. Standard Life is Britain's fourth-biggest insurance company.  View Article
 
  Financial
 
 
European Commission: The financial services sector as an instrument for growth
Speech by Jonathan Hill covering capital markets union, financing of long-term investment, financing of infrastructure and other topics.  View Article
European Commission: Structured Dialogue - ECON
Jonathan Hill reports on progress made in implementing his priorities. He discussed financial reforms, banking union, CMU and the single market, among other topics.  View Article
European Voice: Banking reform special report - Held to account on banking reforms
A focus on boosting investment may signal greater flexibility on bank regulation after the tough reforms of the sector.  View Article
European Voice: Capital markets to challenge banks?
Jean-Claude Juncker must involve the banking sector in his plan for integrating Europe’s capital markets to boost investment.  View Article
Reuters: EU lawmakers to discuss accelerating capital markets union
The European Union's plans for a capital markets union to boost financing for companies should be accelerated and completed two years earlier than proposed, a draft parliamentary motion seen by Reuters said.  View Article
The Parliament Magazine: Capital markets union cannot 'copy and paste' US financial model
The 2019 CMU timeline 'contradicts the urgency that the commission has attached to the proposal,' writes Sylvie Goulard.  View Article
The Parliament Magazine: Capital markets union is about 'better exploiting the EU single market'
The capital markets union could help SMEs access better funding, but pre-existing tools within the internal market should not be ignored, writes Peter Simon.  View Article
The Parliament Magazine: Commission's capital markets union proposal 'needs to be taken with a grain of salt'
The capital markets union can only work if it is compatible with Europe's existing financial framework, writes Markus Ferber.  View Article
House of Lords: Capital Markets Union - a welcome start
The report supports the Commission’s proposals, saying that a Capital Markets Union is a timely and important initiative, but the Committee warns that it must be rolled out carefully, with the protection of investors’ money at its heart. It includes quotes from Graham Bishop.  View Article
 
  Economic
 
 
European Parliament: Tax competition should be fair and transparent
Tackling tax evasion should be a top EU priority. EU countries and the European Commission should play a leading role in discussing how to fight tax fraud and aggressive tax planning in the OECD and other relevant fora, says Parliament in its resolution on tax, voted on March 25.  View Article
Investment plan: EESC welcomes 75 million euros for SMEs as a good start
At the EESC plenary session on 19 March Jyrki Katainen announced that the money would be made available in late April 2015 under the new European Fund for Strategic Investment.  View Article
Reuters: ECB actions working, but structural reforms needed- Liikanen
Liikanen noted that determined action by member states would allow the ECB's bond-buying programme and low interest rates to exert the best possible benefit.  View Article
ECB: Decisions taken by the Governing Council
Decisions on monetary policy, external communication, market operations, payment systems, financial stability and supervision, corporate governance and banknotes.  View Article
ECB: Interview with Peter Praet
The interview was originally published in Il Sole 24 Ore and covers the euro area economy, inflation, QE and TLTROs, among other things.  View Article
 
  Budgetary
 
 
EU budget management: Commission and Parliament spending for 2013 approved
The European Commission managed its 2013 EU budget funds according to the rules, so Parliament should grant it a “discharge” (approval) for that year, said the Budgetary Control Committee on March 24.   View Article
 
  Think Tanks/EP groups
 
 
Bruegel: Living (dangerously) without a fiscal union
The euro area’s political contract requires member nations to rely principally on their own resources when confronted with severe economic distress. Since monetary policy is the same for all, national fiscal austerity is the default response to counter national fiscal stress.   View Article
 

 


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