The European Parliament’s economic affairs committee today voted on proposals to strengthen EU rules against financial actual market manipulation and insider dealing. The Greens welcomed the vote, which would introduce tougher sanctions and other measures, with Green finance spokesperson Sven Giegold (MEP, Germany) stating: “The recent LIBOR interest rate rigging scandal has underlined the need […]
Reasons for the Greens not to adopt the 2012 report on the European Semester
On Tuesday 9 October the Committee on Economic and Financial Affairs in the European Parliament adopted its position on the report “The European Semester for economic policy coordination: Implementation of 2012 priorities”. The Greens, ECR (European Conservatives and Reformists) and GUE (European United Left) voted against the report but couldn’t hinder the majority of Conservatives […]
Financial transaction tax: Greens hail landmark moment for FTT
Commenting on the announcement that a group of eleven EU member states has agreed to move forward with the implementation of a common financial transaction tax through an ‘enhanced cooperation’ procedure (1), Green economic and finance spokesperson Emilie Turunen (MEP, Denmark) stated: “This breakthrough on the financial transaction tax (FTT) is a landmark moment both […]
Call for tender of the EP for two studies on financial supervision
The European Parliament has published an open call for tender for two studies regarding the Review of the new European System of Financial Supervision (EFSF). One study deals with the work of the European supervisory authorities (EBA, EIOPA and ESMA), the other one with the work of the European Systemic Risk Board (ESRB). Please feel […]
Study: Legal issues of the Single European Supervisory Mechanism
Here you find a short version of the study commissioned by my colleague Dr. Franziska Brantner and me, written by René Repasi from the Institute of German and European Corporate and Business Law, University of Heidelberg: “Legal issues of the Single European Supervisory Mechanism” Key findings: A. A full-fledged single supervision mechanism which is democratically […]
Financial markets and products (MiFID) MEPs take steps to tackle commodity speculation but consumer protection undermined by Socialist u-turn
The EP’s economic affairs committee today voted on important legislative proposals on the regulation of the market for financial instruments (MIFID). While MEPs took tentative steps to strengthening proposals on high frequency trading and commodity speculation, the Greens are shocked by the last minute weakening of provisions on consumer protection by the S&D group. In […]