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08 May 2014

Integrating Europe




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Graham Bishop

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Articles from 01 May 2014 - 08 May 2014

Graham Bishop

EIM Member States - April 2014
More evidence has come from the City that 'Brexit' would be very damaging to the UK – and also to the EU. Positive developments in Spain, Portugal, Greece and Cyprus.  View Article
EIM Economic - April 2014
All three major international forecasters (Commission/OECD/IMF) agree that Europe/eurozone is on a path to economic growth.  View Article
EIM Financial - April 2014
The European Parliament voted through key legislation on the SRM for eurozone banks, the Bank Recovery and Resolution Directive (BRRD), and upgraded rules to protect deposits.  View Article
EIM Political - April 2014
In three weeks, the European Parliament elections will be done – but could the result yet be tipped by the Russian impact on the simultaneous Ukraine polls re-awakening the basic fears that created the EU in the first place?   View Article

Political

Wolfgang Münchau: Voting will not change Europe’s real power balance
A popular backlash against Brussels should not be surprising, writes Wolfgang Münchau in his column for the FT, analysing the power shift between the European institutions in the last 5 years.  View Article

Financial

EU Council adopts BRRD
The EU Council has confirmed that it has adopted the Bank Recovery and Resolution Directive in the form published on 28 April 2014. This follows the adoption of the BRRD by the EU Parliament on 15 April 2014. It will enter into force once published in the OJ.  View Article
ECB: Report on progress in the operational implementation of the SSM Regulation
In their second Quarterly Report to the European Parliament, the EU Council and the European Commission on progress in implementing the Regulation on the Single Supervisory Mechanism, the ECB covers the three months between 4 February and 3 May 2014.  View Article
EBA publishes risk dashboard for EU banking sector
The EBA published the first risk dashboard for 2014 summarising the main risks and vulnerabilities in the banking sector in the EU, based on the evolution of Key Risk Indicators (KRI) from 55 banks across the EU in the fourth quarter of 2013.   View Article
Risk.net: EIOPA tests insurers' resilience to sovereign stress
Experts say insurance company balance sheets will be hard hit in stress tests launched by European regulators in April. The inclusion of a sovereign debt crisis in the stress scenarios will have a particular impact.  View Article
MarketsMedia: EU regulators to focus on asset management
Sharon Bowles, chair of the outgoing committee on economic and monetary affairs in the European Parliament, said the systemic risk from asset managers will be a heavy focus for regulators.  View Article
IPE: The case for a European Pensions Union
The strengthening of European financial supervision raises questions about the sovereignty of national governments and the desirability of transferring powers to 'Brussels'. Pascal Borsjé and Hans Van Meerten argue that the pension issue does indeed require a European approach.  View Article
Bloomberg News: Draghi's ABS plan seen helping banks, not business
Mario Draghi’s plan to spur growth by getting the ECB to buy asset-backed securities and persuade lenders to sell more of the bonds is being met with scepticism by the biggest money managers in Europe.   View Article
Reuters: Regulators lack data to probe shadow banking sector
Shining a light on the murky $70 trillion world of "shadow banking" is proving tricky for regulators handicapped by too little data and under pressure to boost economic growth, and this means risks may be escaping proper scrutiny.  View Article
ESMA/Maijoor: 'The reform of financial markets: halfway there'
ESMA's Chair, Steven Maijoor, spoke on the three main challenges he sees in the current phase of regulatory reform: Commitment to financial reform, its implementation and adequate supervision.  View Article
Financial News: ESMA chair calls for funding revamp
ESMA's chairman, Steven Maijoor, called for an overhaul to the watchdog's "twisted and inappropriate funding system", including greater use of market-based fees and less reliance on contributions from national regulators.  View Article
Finland deputy: Banking Union may 'exacerbate conflict' for national supervisors
Banking Union is envisaged to lessen the role that national interest plays in bank supervision, but Pentti Hakkarainenin warns of potential short-term setbacks.  View Article

Economic

Commission's spring 2014 forecast: Growth becoming broader-based
The European Union reckons Europe’s economic recovery will get deeper and broader through 2015, reaching even its most vulnerable countries, but warned that very low inflation and tensions with Russia could yet upset the economic apple cart.   View Article
Eurozone divided over FTT deal
Ten participating Member States have reiterated their commitment to the FTT and laid down their roadmap for its implementation at this week's ECOFIN meeting. Details are, however, still undecided. (Includes comments by EBF, PensionsEurope, AFME, et.al.)  View Article
ECB/Mersch: Institutional overhaul of the euro area
Yves Mersch, Member of the Executive Board of the ECB, spoke on further legislative action necessary to complete the Single Market for financial services and options for the development of the institutional framework of EMU.  View Article

Member State events

ECB/EC: Conclusion of the first post-programme surveillance mission to Ireland
Following the successful completion of the EU/IMF financial assistance programme at the end of 2013, the outlook for Ireland has continued to improve.  View Article
Portugal opts for clean programme exit
The Eurogroup welcomed the Portuguese government's decision to exit its economic adjustment programme without any further support.  View Article
Bank of Italy warns of 'fragile' recovery
Italy’s economic recovery is taking hold but remains “fragile”, the Bank of Italy has warned, noting that credit conditions remain difficult even as foreign investors are showing renewed confidence in the eurozone’s third-largest economy.  View Article
New pro-Europe British Conservatives party to stand in EP elections
A group of pro-Europe British Conservatives has decided to launch a new party to stand in the upcoming European elections as an alternative to David Cameron’s Conservatives, and Nigel Farage’s eurosceptic UK Independence Party (UKIP). EurActiv spoke to its founder, Dirk Hazell.  View Article





© Graham Bishop


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