Statement of the Chair, Rapporteur and shadow rapporteurs on the single resolution mechanism for banks The negotiating team of the European Parliament is united behind the strong mandate it received from the economic and monetary affairs committee. This mandate does not provide for any need for an intergovernmental agreement to formulate the details on the […]
Financial Times: Europe set to ease reform on bank splits
Brussels is set to ease financial reforms so that big European banks are not forced automatically to split lending operations from risky trading. In a draft European Commission proposal, seen by the Financial Times, the separation is no longer mandatory, would be less costly and restrictive than first envisaged and national supervisors are given wide […]
Banking Resolution: Solid Deal With a Loophole
The European Parliament and the Council last night reached an agreement on new EU legislation on bank recovery and resolution in the context of banking crises. The new legislation includes provisions that troubled banks should primarily be saved by their shareholders and creditors (bail-in) rather taxpayers. However, the Greens are concerned that taxpayers could continue […]
Banking: Universal right to bank accounts to be guaranteed in Europe
The European Parliament today voted on new EU legislation governing basic bank accounts. The Greens welcomed the outcome, notably provisions on the right to a bank account (1). Commenting after the vote, Green finance spokesperson Sven Giegold said: “The EP has today voted to ensure a universal right to an affordable basic payment account for […]
Mortgage rules: Deal a breakthrough for consumer protection but bigger picture lacking
Today the European Parliament finally adopted new rules on mortgages after negotiations between the European Parliament and Council were concluded in April this year (directive on credit agreements relating to residential properties). The Greens welcomed the agreement, which will provide for greater protection for consumers but cautioned that the rules fail to deal with the […]
Der ESM gründet ein Tribunal auf fragwürdiger Rechtsbasis. Frage an Kommission und Rat
Administrative Tribunal of the European Stability Mechanism – Call for candidates, as Members of the Tribunal
Zusammen mit meinen Sherpa-Kollegen Roberto Gualtieri (S & D), Elmar Brok (EPP) and Guy Verhoefstadt (ALDE) I habe ich die folgender Frage an die Kommission eingereicht. Hintergrund ist eine Ausschreibung des Europäischen Stabilitätsmechanismus (ESM) für ein eigenes Tribunal. Das Europaparlament will verhindern, dass außerhalb der demokratischen Gemeinschaftsmethode weitere wenig kontrollierte Institutionen entstehen. Unsere Frage, die […]