The European Parliament’s economic and monetary affairs committee today voted to revise draft EU legislation on investment funds (the UCITS directive), with a total sector value of almost € 6.3 trillion in funds. The vote on the legislation, which is being shepherded through the European Parliament by Green draftsperson/rapporteur Sven Giegold, also includes provisions on […]
Investment fund rules (UCITS)
EU banking union
Landmark banking supervision deal includes key provisions on democratic accountability
An agreement on new EU legislation creating a European banking supervision mechanism was reached in negotiations between the European Parliament, Council and Commission today. The Greens welcomed the outcome on the two legislative files on banking supervision, with Green finance spokesperson Sven Giegold, who is draftsperson/rapporteur for the EP on the European Banking Authority supervision […]
Economic governance – 2 pack: EP signs off new rules providing sounder EU economic governance and crisis response
The European Parliament today adopted a final agreement on key legislative proposals aimed at further strengthening economic governance in the Eurozone. The Greens welcomed the legal provisions increasing democratic oversight over countries under assistance as well as the commitment by the Commission to outline proposals on further steps towards the mutual issuance of sovereign debt […]
Strong French efforts for deficit reduction: No reason for conservative bashing of France
Today, the European Commission published its Winter Economic Forecast revealing that the French government is expected to reach a budget deficit of 3.7% of GDP in 2013 and to reduce its structural deficit by 1.3% of GDP. In 2012 France reached a budget deficit of 4.6% of GDP and an annual fiscal effort of 1.2%. […]
EU financial regulation
Tightening of EU derivatives rules to reduce risk welcome but regulatory process must be improved
New rules aimed at tightening the provisions of EU legislation on derivatives (the EMIR regulation) were today given the go-ahead after a draft objection tabled by a group of MEPs failed to get sufficient support (1). The Greens welcomed the outcome, which will ensure the rules, aimed at reducing the risk of these opaque financial […]
Eurogroup chairpersonship: Fait accompli as latest Euro economic decision-making post to be signed-off after backdoor deal
Finance ministers from the 17 Euro member states are set to confirm Dutch finance minister Jeroen Dijsselbloem as the new chair of the Eurogroup – replacing Jean Claude Juncker – at today’s Eurogroup meeting. Commenting on the decision, Green finance spokesperson Sven Giegold said: “Eurogroup finance minister will today sign off on the fait accompli, […]