The new European banking supervision mechanism will officially begin its work tomorrow under the responsibility of the European Central Bank (ECB). The most important banks in the Eurozone will be under direct supervision, with the ECB having an indirect responsibility for all other banks. Ahead of the launch Green economic and finance spokesperson Sven Giegold, […]
FT spin on bank levy contributions gets it wrong
Dear Peter Spiegel, In today’s comment on the single resolution funds contributions you wrote: „EU officials declined to make public how much each country would contribute to the €55bn fund under the new plan. They acknowledged that, under the system, some countries with highly-concentrated banking systems would end up paying as much as 4.5 times […]
Banking resolution: EU Commission’s bail-in plans would prop-up big, risky banks at the expense of others
The European Commission today adopted new EU rules on how to calculate the contributions by banks to the EU’s banking resolution fund system (1), both the national resolution funds and the EU’s Single Resolution Fund. Reacting to the proposals, Green finance spokesperson Sven Giegold stated: “There is a real risk that we are repeating the […]
News reports on Cañete’s links to companies in tax havens
This is to document information compiled by infoLibre and translated by Avaaz relevant for the upcoming decision on Commissioner designate Miguel Arias Cañete: Five Questions Cañete has not yet answered about his family infoLibre, Alica Gutiérriez * Initial translation by Avaaz only for the purposes of this briefing HAS CAÑETE HAD ANY DIRECT […]
Lord Hill refuses to provide answer on his lobbying past
Following the first hearing of Lord Hill, commissioner-designate for EU financial market affairs, the European Parliament´s Economic and Monetary Affairs Committee (ECON) had invited Hill to a second exchange of views. Prior to this meeting on Tuesday, 6 October (13:00 – 14:30), the ECON Committee had also sent a list of written queries to Hill. […]
Bull in a china shop: Lord Hill is not suitable as commissioner for financial stability
After 3 hours of a critical hearing Lord Hill left a puzzeled European Parliament behind. Many unanswered questions remained, he did not present own ideas and hid behind vague replies. He could not properly flesh our Mr. Juncker’s idea of a capital markets union which will be one of his main priorities. Lord Hill refused […]