Parliamentary Elections Underscore Challenges for EU
The worst of the European financial crisis may be over but results of the recent European parliamentary elections suggest the EU still has many challenges to contend with going forward.
Top 3 Challenges Posed by EU Banking Union
After much public bickering, the European Parliament has voted to approve rules to govern the move to a banking union. But challenges remain.
EU Pushes Ahead With Reforms Despite Opposition
Action is progressing on a number of fronts for the European Union even as opposition from countries such as Germany and the U.K. slows progress.
Investor Alert: Latvia to Become Newest Eurozone Member
Far from breaking up, the Eurozone is on the verge of welcoming a new member. The news is good press for the Eurozone, after so many bad headlines.
EU to Consider Caps on Banker Bonuses
Britain’s Finance Minister George Osborne, who has been outspoken in his efforts to preserve the London’s financial primacy in Europe, is expected to oppose the measure and has already said he would fight any bonus caps proposed by Brussels.
German Finance Minister Wants to Change EU Treaties
German Finance Minister Wolfgang Schaeuble is advocating changes that will allow the EU’s monetary affairs commissioner to reject national budgets and prevent non-eurozone countries, like Britain, from nixing eurozone-only measures.
Basel Capital Rules Could Be Delayed: Sources
The start date for new Basel III rules on bank capital could be pushed back by six months to a year, according to three people with knowledge of current discussions.
EC President Unveils Banking Union Plan
The plan laid out by President Jose Manuel Barroso would not only allow the ECB to supervise all eurozone banks, but would also give it jurisdiction over a broader, and at first voluntary, EU banking base.
EU Leaks of Draghi Comments Threaten Future Meets: Chairwoman
Sharon Bowles, chairwoman of the EU assembly’s economic and monetary affairs committee, berated fellow committee members after comments made by ECB President Mario Draghi in a confidential meeting were leaked to the media.
Probe of Libor Scandal Set by British Parliament
An investigation into the rigging of Libor has been set by the British Parliament as the City of London worries that its reputation as the world’s top financial center has been damaged beyond repair.