The group of Conservatives and Reformists must decide: Do they defend the Euro or break it? The European Parliament’s Committee for Economic and Monetary Affairs (ECON) met today to elect its chair and and vice chairs. According the the D’Hondt method, the political group of Conservatives and Reformists also has the right to suggest one […]
EU financial supervision – MEPs to strengthen and streamline financial supervision system
The European Parliament today adopted a report by Green MEP Sven Giegold on strengthening the EU’s financial supervisory system. Commenting after the vote, Green economic and finance spokesperson Sven Giegold said: „MEPs have today voted to strengthen and streamline the EU’s financial supervisory system. The report calls for greater efficiency and more power for European […]
Questions for the ECON hearing with Danièle Nouy, Chairwoman of the Single Supervisory Mechanism for Banks (SSM)
On 18 March (11-12.30am), a hearing with Danièle Nouy, the chairwoman of the SSM will take place in the European Parliament´s Economic and Monetary Affairs Committee (ECON). We are invited to submit written questions in advance. Therefore, if you are interested, I would like to ask you to send us possible questions, which we could […]
Press release of the Parliament’s negotiating team on banking resolution: Key principles for successful negotiations
Before the participation of the negotiation team of the European Parliament for the Single Resolution Mechanism we issued a common press release: Single bank resolution mechanism and fund: Key principles for successful negotiations Member States must seize the opportunity of this week’s ECOFIN to allow real negotiations to begin with Parliament on the single […]
Banking rescue for beginners
Currently the European Parliament and the Council are negotiating the structure of the Single Resolution Mechanism (SRM). In case of bankruptcy the SRM shall resolve the bank as quickly and effectively as possible to minimize contagion and the repercussions for the financial system. The creation of the mechanism was initiated to protect the taxpayers. In […]
Green study sheds light on hidden subsidies for Europe’s banks
The Greens in the European Parliament have recently released a study which aims to shed light on the subsidies and likewise the gains, which banks implicitly obtain due to the expectation that governments will rescue struggling credit institutions with tax payers money anyway. Creditors take this behaviour of the state into account and therefore lend […]