EIOPA has today published its opinion on the upcoming review of the European insurance rules called Solvency II. The European Commission is planning to propose amendments to the current regime in summer 2021 and had asked EIOPA for a broad assessment of the current framework. The rules have significant consequences for the stability of the […]
NPL Action Plan: Insufficient protection for borrowers and taxpayers
Today, on 16 December 2020, the European Commission has presented its new action plan on non-performing loans (NPLs). It is the Commission’s latest effort to deal with the elevated level of NPLs which have been plaguing banks in many member states ever since the European debt crisis. The new push comes ahead of a potentially […]
ECB gives in to lobby demands: Banks may resume dividend despite massive public support
Yesterday evening, on 15 December 2020, the ECB decided to relax the dividend freeze that had been in place since March for the large European banks under its supervision. The ECB had previously recommended banks to refrain entirely from distributing profits and buying back shares during the crisis. Due to a lack of legal powers, […]
EU Drinking Water Directive: Clean water for the whole EU
The first successful European citizens’ initiative “Right2Water” for EU-wide access to clean drinking water becomes European law. Today (Tuesday, December 15), the President of the Parliament announced the European Parliament’s approval of the outcome of negotiations on the EU Drinking Water Directive (“Directive of the European Parliament and of the Council on the quality of […]
Petition Digital Tax Now! – Local shops close, while Amazon & Co make huge profits: the digital tax must come now!
Sign right here: https://www.change.org/digitaltax-now Dear friends, dear interested, It is truly bitter: In many countries, local retail shops have to close before Christmas because of the Corona pandemic. This pandemic is bringing many shops to the brink of their existence. Entire city centres are threatened with economic extinction. And now, of all people, the tax […]
Greens/EFA call on the ECB to maintain restrictions on dividends and share buy-backs for euro area banks
Under the Single Supervisory Mechanism, the ECB is the direct supervisor for the largest 113 euro area banks. Next week, the ECB will decide whether it continues its recommendation to supervised entities not to distribute dividends and buy back shares during the pandemic. The ECB had first issued such a recommendation on 27 March 2020. […]