GrahamBishop.com is re-shaping its activities to target the interaction of the driving forces of politics and economics as they force the required changes in financial regulation – at the macro level rather than covering the micro aspects of detailed implementation.
Banking union and capital markets union are already underway, but obstacles remain. The next big project – enhancing the international role of the euro – is only under discussion . But the euro’s role can only be enhanced if there is a successful banking union and capital markets union. The EU is seeking to neutralise any “weaponising“ of the dollar and the consequences could include a re-shaping of the functioning of the foreign exchange markets and a deepening of European capital markets that would require a well-functioning capital markets union.
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Graham Bishop is honoured to have been awarded a research contract by the European Commission as part of its series of studies on various aspects of euro area sovereign bond markets.
Graham's contract is intended to illuminate the attitudes of investors toward the euro area sovereign bond markets. In particular, this leads to consideration of attitudes towards the potential for a “common euro area safe asset”: what characteristics should it possess and whether it would ameliorate any of the concerns expressed about the features of existing bond markets.
His proposal for a Temporary Eurobill Fund is one of the range of options in this study. His proposal offers a modest, technical but concrete step that can be expanded progressively into a financial, economic and political structure if circumstances develop propitiously. This author has developed the TEF plan over several years and has comprehensively updated it in the form of “30 FAQs”. Click on the button to download.