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14 April 2015

109th Brussels for Breakfast

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Topics covered included Greece, Brexit, BIS on Achilles Heel of financial system, Commissioner Hill speeches, Eurogroup President succession, Commission management re-shuffle, ESA budgets, bank break-up and CCPs (ECB speech, BoE/ECB agreement), among others.

(Hosted by the BBA and organised by the CSFI – with Graham Bishop and Huw Jones (Reuters) and Simona Amati (Kreab)

(After this event, Graham Bishop went to CISI for a 30 minute discussion that is CPD-eligible for CISI members – and others. Please click here for full details of our structured/unstructured CPD products)

"At the Eurogroup (meeting) of April 24 there must be a preliminary conclusion (of the talks), as per the Eurogroup accord on Feb. 20," Greek Finance Minister Varoufakis said as Greece submitted new list of reforms to Eurogroup. It is the Greek government’s most comprehensive effort so far to unlock bailout funds before it goes bankrupt.

The BIS published a report on the international monetary and financial system: Its Achilles heel and what to do about it. One of the charts in the report shows the sharply increasing amplitude of the financial cycles over the past 40 years and provides food for thought for anyone who thinks the current wave of regulation will have made the world a safe place.

ECB’s Coeure said that “CCPs are now `super-systemically important’ so they must be able to cope with even extreme losses… Regulators need to think the unthinkable”.

The full version of this article is available to clients

© Graham Bishop

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