Yesterday evening the economic and monetary committee (ECON) of the European Parliament voted its position on the 2018 EU budget. While the monetary changes for budget lines were carried with a large majority, the committee postponed the vote on the text of the compromise were postponed as the negotiations of two compromises were not yet […]
Poland: Criticism of the EU commission is justified but contestable
Today, the European Commission has reacted to the planned justice reform in Poland and announced first decisions for next week. MEP Sven Giegold, Greens/EFA and rapporteur of the Parliament for the transparency, integrity and accountability of EU institutions: “It is good news that the EU commission has sent a clear message to the Polish […]
Italian and Spanish banks and Panama Papers in the European Parliament
Dear correspondents, Dear journalists, Tomorrow financial crime and new banking subsidies will be high on the agenda of the European Parliament. We will hold behind closed doors hearings with Commissioner Vestager and with the chair of the European Single Resolution Board Elke König at 8.15 am and at 3 pm respectively. At 4 pm […]
EU-Japan trade agreement is an unfinished house – European Parliament is being barred from further negotiations
The economic and financial policy spokesperson for the Greens / EFA Group in the European Parliament, Sven Giegold, comments on the political agreement between the EU and Japan on a free trade agreement (JEFTA): “The agreement presented is only a half-finished house. Controversial building blocks such as investment protection and regulatory cooperation are only […]
EU Commission approves rescue of Monte dei Paschi: Blatant disregard of the Banking Union rules
Today, the EU Commission has approved new state aid of € 5.4 billion for Monte dei Paschi di Siena. The EU Commission is responding to the desire of the Italian government for a “precautionary bank recapitalization”. Senior creditors and depositors will therefore be protected against their losses. The EU Commission believes that the state aid […]
United in Diversity: European Parliament calling for strict common rules for Covered Bonds
This Tuesday, the European Parliament voted on the initiative report “Towards a pan-European covered bonds framework”. Covered bonds are debt securities issued by a bank or mortgage institution and collateralised against a pool of assets. Holders of covered bonds are protected twice, through recourse against the issuer and the collateral, a safety mechanism known as […]