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 […]
Banking: EU Parliament pushes through universal right to a bank account, as deal reached on new EU rules
The European Parliament and Council today reached an agreement on new EU legislation governing basic bank accounts. The Greens welcomed the outcome, notably provisions on the right to a bank account, as well on greater transparency on the costs of bank accounts. The deal must now be confirmed by the European Parliament and Council. Commenting […]
Banking resolution: Deal makes resolution mechanism simpler, more European and efficient but intergovernmental approach casts long shadow
An agreement was reached this morning between the European Parliament and Council on new EU rules on bank resolution and the creation of single mechanism for banking resolution. European Parliament negotiators have secured major improvements to the single resolution mechanism that was on the table from EU governments, ensuring it will be simpler, more European […]
FT: France and Germany squabble over who pays for EU banking union
Financial Times, 17. März 2014 France and Germany squabble over who pays for EU banking union By Alex Barker in Brussels France and Germany are squabbling over who should foot the bill for Europe’s banking union, with Paris fearing its banks will pay the biggest share towards a €55bn rescue fund. As the EU enters […]
Join the Climate Demonstration in Brussels
On March the 20th European Heads of State will meet to discuss EU climate policy. On this occasion, the Greens/EFA group will join a demonstration organised by a couple of NGOs. We will be there to show that we are frustrated with the lack of urgent action and that we need a real energy revolution. I […]