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08 October 2015

Brexit 'Weekly'


CMU, 29th regime, EU reform, Brexit, Banking supervision, financial regulation, tax transparency rules and more.

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  Articles from 01 October 2015 - 08 October 2015

  Grahams Articles, Comments & Speeches
 
 
Deepening EMU – Round-up of Key Events – September 2015
The presentation of the Action Plan for building a Capital Markets Union and the State of the Union debate were the main events in the European Parliament. The ECB's efforts as the single supervisor clash with national laws: Draghi called for a common approach in the EU to writing off bank debt.  View Article
What is CMU?
What is CMU and what is it intended to achieve?   View Article
It’s time for a 29th regime
The 28 member states should set up a new EU-wide regime operating in parallel with national ones as a way of removing obstacles to CMU.  View Article
 
  Friends Services
 
 
Deepening EMU – Round-up of Key Events – September 2015
The presentation of the Action Plan for building a Capital Markets Union and the State of the Union debate were the main events in the European Parliament. The ECB's efforts as the single supervisor clash with national laws: Draghi called for a common approach in the EU to writing off bank debt.  View Article
 
  Political
 
 
POLITICO/Hammond: Britain’s four-point package for EU reform
UK's government wants a renegotiation of market regulation, ‘ever-closer union,’ subsidiarity and welfare, writes Foreign Secretary Philip Hammond. The referendum will be "by the end of 2017, and earlier if [they] can."  View Article
VerfassungsBlog: Cameron’s bid for irreversible guarantee means constitutional chaos
The Conservative government’s attempt to renegotiate the UK’s terms of membership of the European Union continues to distress Britain’s pro-Europeans, antagonise its anti-Europeans and bamboozle its EU partners.  View Article
European Council: Remarks by J. Dijsselbloem following the Eurogroup meeting
Eurogroup's President Dijsselbloem talked about Greece, services reforms, Draft Budgetary Plans and fiscal policy in a low interest rate environment.   View Article
 
  Financial
 
 
City A.M./Baldwin: Why the Capital Markets Union will propel business and investment across all of Europe
CMU will help UK institutions extend their offerings, and sell their products to people across the single market – as well as allowing them to provide a wider range of cost-effective funding to SMEs across Europe, according to the Economic Secretary to the Treasury and City Minister Baldwin.  View Article
CEPS: Detailed CMU Action Plan, but more (ambition) is required
However useful the proposals in the CMU may prove to be, they do not address the main problem in Europe’s capital markets, namely that European household savings are not finding their way into more rewarding investments.  View Article
Policy Network: The Capital Markets Union needs to do more to help risk-takers
The CMU should focus on the fast-growth and innovative firms that truly make a difference and are capital constrained.  View Article
Bruegel: Europe’s Capital Markets Union and the new single market challenge
The diagnosis that EU capital markets are underdeveloped, and that less dominance of banks in the system would be good both for growth and for stability, is important and well-taken in the CMU Action Plan.  View Article
BIS: Moving together - one year of European banking supervision
In his speech, Andreas Dombret analyses the work of the ECB's SSM in its first year as the single supervisor for the European banking sector.  View Article
BIS' Noyer: Financial regulation-stability versus uniformity, a focus on non-bank actors
Noyer argues that the Capital Market Union's project is aiming at achieving a sound regulatory framework for the shadow banking sector, and to its end the European Commission has defined criteria for Simple, Transparent and Standardized (STS) securitization along with the EBA.  View Article
Financial Times: What the bankers can teach stimulus-addicted economists
The myopia in macroeconomic policy contrasts with much more convincing global action to repair the banking sector, writes German finance ministry's Schuknecht.  View Article
Greece: Parliament backs urgent frontloading of €35 billion in EU funding
The European Parliament backed a set of one-off measures aimed at boosting the effective spending of €35 billion earmarked for Greece in the EU 2014-2020 budget. This includes €20 billion from the European structural and investment funds and €15 billion from agricultural funds.  View Article
CEPS: Where is the credit crunch in Greece?
Austerity is an easy explanation for the weakness of Greek domestic demand, argues Daniel Gros in this CEPS Commentary, but it is more difficult to see why Greek exports have stagnated in recent years.  View Article
 
  Economic
 
 
Cross-border tax rulings: Council approves transparency rules
The European Council reached a political agreement on a directive aimed at improving transparency in the assurances given by member states to companies about how their taxes are calculated.   View Article
ECB'S Cœuré: Interview with L'Orient-Le Jour
Highlights of the interview were: the crisis of the euro, the diversity within the eurozone and how this affects the economy, and how can the ECB contribute to strenghtening the international status of the euro.  View Article
 

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