Dear friends, dear interested, Dear media representatives, The European Ombudswoman today published her recommendation on Adam Farkas’ move from the European Banking Authority (EBA) to the financial lobby. Emily O’Reilly, the Ombudswoman, who is responsible for ethical issues in the EU institutions, comes to a crystal clear conclusion: this move to the investment banking lobby […]
EU anti-money-laundering action plan: Fight against money laundering is in times of coronavirus more important than ever before
Today, Commission Vice-President Valdis Dombrovskis presented the EU-Commission’s new action plan to fight money laundering and terrorist financing. The action plan is a consequence of the major money laundering scandals of the last years which were not prevented by the member states implementing EU anti-money laundering directives. With the action plan, the Commission responds to […]
Ruling of the German Constitutional Court on ECB: German government must make proposal for euro area common fiscal policy
In its ruling today, the German Constitutional Court declared the ECB decisions on the bond purchase programme (PSPP) to be in breach of competences. The judges declared the previous positive preliminary decision of the European Court of Justice to be incomprehensible and thus arbitrary, because the Court had excluded the economic effects of the programme […]
Commission proposal on banks in the Corona crisis: One-sided proposals for capital relief
Today Commission Executive Vice-President Valdis Dombrovskis presented proposals for a temporary reduction of capital requirements in the Corona crisis. The Commission wants to ensure that banks continue to provide credit to the real economy despite the crisis. The package of measures includes a proposal to compensate for the effect of the new accounting rules (IFRS9) […]
ESAs proposal for ESG disclosure standards: Funny lobby outcomes. Need for definition of fossil sector beyond coal
The three European Supervisory Authorities (ESAs) have published their consultation on environmental, social and governance (ESG) disclosures in the context of the ESG disclosure regulation. On the basis of a draft regulatory technical standard, they seek input on proposed ESG disclosure standards for financial market participants, advisers and products. Under the regulation on sustainability-related disclosures […]
Motion of Resolution of German Greens on European response to Corona
Dear friends, Dear interested, I would like to inform you about a draft resolution on the European response to the corona crisis proposed by the Green group in the German Parliament which is debated today. We are very pleased that we have achieved an alignment with our Coronabonds position in the European Parliament. The German […]