The European Parliament today voted to adopt a series of legislative files as part of the move to create a European banking union (1). The Greens welcomed this major development for dealing with the problems of the financial sector in a coherent European manner but expressed regret that many of the core provisions of the […]
Financial Times: UK intervention puts bank failure deal at risk
By Alex Barker in Brussels A landmark EU agreement on a common rulebook for handling bank failures is in danger of unravelling over the fine print restricting when a state can intervene to rescue a struggling bank. Britain is facing objections from several other member states as it scrambles to revise a political […]
EU audit rules: MEPs cave to lobbying and defend ‘big four’ audit oligopoly
The European Parliament today voted on the revision of EU audit rules. The Greens hit out at the outcome, which will fail to tackle conflicts of interest in the audit sector and will fail to tackle the dominant position of the ‘big four’ audit firms. After the vote, Green legal affairs spokesperson Eva Lichtenberger said: “This reform should […]