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12 June 2014

Integrating Europe

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Graham Bishop




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  Articles from 05 June 2014 - 12 June 2014

  Graham Bishop
Graham Bishop's Blog: Is today crunch time for Juncker?
The Juncker candidacy for Commission President faces two challenges: (i) getting the support of a “QMV” of the Heads of Government in the European Council and (ii) subsequently gaining 376 votes from MEPs.  View Article
Reuters: Cameron's conservatives accept Germany's AfD into political bloc
A conservative alliance in the European Parliament led by Prime Minister David Cameron's party has voted to admit Germany's anti-euro AfD party into its bloc, putting Cameron at sharp odds with German Chancellor Angela Merkel.  View Article
Reuters: Most Germans want Merkel to push for Juncker in EU top job - poll
Some 60 percent of Germans are in favour of Chancellor Angela Merkel backing a bid by Luxembourg's Jean-Claude Juncker, according to a poll by Forsa.  View Article
Eurogroup agrees operational framework for ESM direct recapitalisation instrument
Euro area Member States have agreed the operational framework of the ESM direct recapitalisation instrument, based on the proposal of Eurogroup meeting from 5 May. The instrument is expected to be part of the ESM toolkit by November of this year.  View Article
Barnier: Financial reform must be continued
The Commissioner argued it was a good moment to reflect on progress in managing the crisis and in focusing financial reform on serving the real economy. He reviewed the 40 measures undertaken and urged continued improvement, in the light of the political shocks from the recent European Election.  View Article
ECB/Mersch: Next steps for European securitisation markets
Yves Mersch, Member of the Executive Board of the ECB, spoke on the growing consensus that ABS as an instrument once seen as part of the problem could in fact be part of the solution to the ongoing slow growth environment.  View Article
WSJ: ECB making steady progress in review of major eurozone banks
Daniele Nouy said that the ECB was making steady progress in its review of the health of major eurozone banks, a key step on the path to a closer banking union for the currency bloc bruised by a financial crisis.  View Article
BIS/Caruana: Redesigning the central bank for financial stability responsibilities
Jaime Caruana, General Manager of the Bank for International Settlements, argued that since much of the responsibility for financial stability policy is shared, integrating financial stability considerations into monetary policy, and vice versa, presents tough institutional challenges.  View Article
BIS/Hakkarainen: Banking supervision and central banking
Mr Pentti Hakkarainen, Deputy Governor of the Bank of Finland argued that the ECB responsible for bank supervision is not the same ECB responsible for monetary policy.   View Article
ESMA publishes new MMoU signed by 29 authorities in the securities and markets area
The new MMoU was agreed in view of the increasing internationalisation, harmonisation and interdependence of financial services and markets in the European Union. It is designed to facilitate cooperation arrangements and the exchange of information between competent authorities.  View Article
EBA launches interactive Single Rulebook
The EBA launched the interactive Single Rulebook, an on-line tool designed to facilitate navigation through the single set of harmonised prudential rules in the EU banking sector. The Single Rulebook aims at ensuring consistent application of the regulatory banking framework across the EU.  View Article
EBA publishes final standards on disclosure of leverage ratio
The EBA published its final draft ITS on disclosure for the leverage ratio. These will be part of the EU Single Rulebook and aim at harmonising disclosure of the leverage ratio across the EU by providing institutions with uniform templates and instructions.   View Article
EBA publishes final standards and methodology on disclosure for global systemically important institutions
The EBA published final draft RTS on the methodology for identifying Global Systemically Important Institutions (G-SIIs), final draft ITS on special disclosure rules applicable and final guidelines on special disclosure rules for large institutions.   View Article
Insurance Europe publishes its annual report 2013-2014
The report describes the federation’s activities on all key regulatory initiatives facing the European insurance industry both at EU and global level, including Solvency II, global capital standards and pension regulation.  View Article
Financial News: Trade bodies unite for MiFID II response
Fourteen trade bodies have joined forces to provide feedback on a revised version of the Market in Financial Instruments Directive, as concerns mount over the time frame the industry has been given to consult on the new rulebook.  View Article
Commissioner De Gucht defends TTIP
The EU's Trade Commissioner in Wroclaw outlined the benefits of the TTIP and underlines 'We have no intention of lowering protections.'   View Article
EESC: TTIP - A challenge, but also an opportunity, for Europe
The members of the European Economic and Social Committee have voted overwhelmingly in favour of a balanced EESC opinion supporting the Transatlantic Trade and Investment Partnership negotiations and calling for the benefits to be spread evenly among businesses, workers, consumers and the public.  View Article
  Member State events
Cyprus could tap markets by end-June
Cyprus’s president says the bailed-out country could start borrowing from international markets by the end of this month, a full year ahead of what its creditors had initially anticipated, reports Ekathimerini.  View Article
Spain makes an early repayment of €1.3 billion to the EU
The government announced that it will make an early repayment of 1.3 billion euros from a total of more than €40 billion in European financial assistance because the economy can now permit this, which will help consolidate confidence in Spain.   View Article
CER publishes final report on the Economic Consequences of leaving the EU
The Centre for European Reform's experts finds that, after leaving the EU, the UK would face an invidious choice: sign up to the single market’s rules, or suffer economic damage  View Article
Paul N Goldschmidt: Poor Belgium! Poor Europe!
I have often suggested that Belgium could be a source of inspiration for Europe. Unfortunately, the recent declarations concerning the political future of the country indicate that the reverse is more likely: Belgium is mimicking the European quagmire and will be shortly confronted with similar difficulties.  View Article


© Graham Bishop

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