Unresolved banking scandals threaten to derail closer cooperation with Europe's microstates, writes Martin Kreutner.
The collapse of Silicon Valley Bank (SVB) in the US only has a “limited impact” on EU markets, and the EU banking sector remains “in good shape”, financial services Commissioner Mairead McGuinness told lawmakers on Wednesday.
European companies have paid heavily for the US self-assigned right to adjudicate on a global scale on the activities of non-US businesses and individuals. The disturbing case of Banca Privada d’Andorra offers yet another striking example, writes Dick Roche.
European Union leaders reiterated on Thursday (16 December) their political commitment to finishing the bloc's banking union, but set no date for it, underlining the deep disagreements between governments on what needs to be done to get there.
Member states with a significant presence of foreign banks fear that the EU Commission’s proposal to implement the Basel III agreement sacrifices their national financial stability to integrate the EU’s banking sector.
European banks have not reduced their presence in tax havens, despite several scandals that have revealed the dubious practices multinationals use to avoid taxes, according to a study published on Monday (6 September).
Eurozone finance ministers (Eurogroup) failed to agree on Thursday (17 June) on a calendar to complete the banking union with a common deposit insurance scheme, as Germany continued to oppose any progress unless member states address other issues, including bank exposure to sovereign debt.
The probability of liquidity shortfalls to protect bank depositors in a new 2008-like crisis would be cut by half if the EU completed the banking union with a European Deposit Insurance Scheme, according to a European Commission analysis seen by EURACTIV.com.
The EU will double down on its efforts to use the Covid-19 crisis to accelerate the ‘Green’ and digital transitions, fuelled by its €1.95 trillion stimulus, an intense policy agenda and new trade opportunities to improve its global standing.
European banks face major losses from bad loans and other costs caused by the COVID-19 pandemic, and their profitability is at record low levels, the European Banking Authority warned in a report published on Friday (11 December).
The European Commission is considering tabling a new proposal on the European Deposit Insurance Scheme (EDIS) in a bid to break the long-running deadlock and complete the banking union, a Commission official has said.
The Commissioner-designate for financial services, Ireland's Mairead McGuinness, promised on Friday (2 October) a “full investigation” into the Wirecard fraud that has thoroughly shaken up Germany, to see why supervision failed.
The Portuguese Government, led by socialist Prime Minister, António Costa, has appointed the former Eurogroup President and Portuguese Finance Minister, Mário Centeno, as Governor of Portugal’s Central Bank. Never have the revolving doors of finance spun so fast, writes João Cotrim de Figueiredo.
The European Commission has held initial talks with various platforms involved in crowdfunding and proposed to lead a joint EU-wide crowdfunding campaign to help some of the most affected groups by the coronavirus pandemic, according to an internal document seen by EURACTIV.
EU governments want the European Commission and regulators to take an “ambitious” approach when interpreting the flexibility of banking rules in the coronavirus period, to ensure that money flows to the real economy, according to a draft statement seen by EURACTIV.com.
Banking authorities are calling on European banks to cut their bonuses for this year in order to reflect the impact of the coronavirus and dedicate more resources to the real economy.
Speaking to EURACTIV in Davos, Eurogroup President Mario Centeno remained hopeful about the eurozone's stalled reform process, saying there are “good reasons” to support ‘green’ investment as part of a broader review of EU fiscal rules due later this year.
Reform of the eurozone bailout fund will remain frozen until at least March, a senior official said on Wednesday (15 January), as governments are still divided over technical details on bond restructuring.
After seven years of growth, the eurozone's outlook is deteriorating. There is a risk of a recession if the trade war with Washington worsens, while member states continue to disagree over the completion of the economic and monetary union that would help them cope with a downturn.
The stock market is flashing ever-stronger orange about the health of Europe’s banks. Yet the regulatory community tells us good news about its capital strength – despite unsustainably low profitability. Fingers crossed for a muddle through!
Italy's prime minister Giuseppe Conte claimed victory on Friday (13 December), after changing the wording of the Euro summit's conclusion postponing a final agreement on the reform of the eurozone bailout fund.
Europe wants to use all the tools available to transit toward a 'green' economy. But ‘green’ lending should not be incentivised by easing capital requirements for banks, the European Banking Authority chief, Jose Manuel Campa, told EURACTIV in an exclusive interview.
EU ministers gather Wednesday (4 December) in a bid to chart progress on the Eurozone reform ahead of the EU Council summit next week. However, recent political developments in Rome and Berlin may hinder talks on the matter.
Italian prime minister Giuseppe Conte called upon the right-wing opposition to act responsibly in talks over the reform of the eurozone bailout fund, the European Stability Mechanism (ESM).
