EU


Open Letter: “Mr. Zapatero, Stop Embarrassing Spain And The European Union” Asks A Spanish MEP

According to Spanish press (Periodista Digital, etc.) Beatriz Becerra, vice-chair of the European parliament’s human rights sub-committee and a member of the Group of the Alliance of Liberals and Democrats for Europe (ALDE Group), has published an open letter against the former Spanish President, José Luis Rodriguez Zapatero, of the Socialist Party (PSOE) after reading the message Zapatero sent privately to Juan Guaidó and other leaders of the Venezuelan opposition.




Monte dei Paschi bailout

Does Monte dei Paschi bailout comply with EU regulations?

The German authorities have come out en masse to criticise the public bailout the Italian government is planning for Monte dei Paschi. For many observers, this decision implies “direct public aid” which goes against the European directive on banking solutions and restructurings.


Italian banks results

Looming Banking Crisis in Italy Casts Another Shadow on Eurozone

Peter Lundgreen via Caixin| What should be deeply worrying about the growing banking crisis in Italy is the origin of the non-performing loans. One significant sector is retail and wholesale, meaning it’s a widespread problem. A severe banking crisis is a shock for any economy and will, in many cases, hamper economic growth. This is the risk that Italy and the Eurozone are facing.


Italian Banks: Definite source of contagion

Italy is threatening us with another time bomb. The country’s banks have 360 billion euros of doubtful loans and the EU (that is to say the sinister Eurogroup), as intelligent as ever, is pressuring for the bail-in rules, to which ultraliberal & co are so addicted, to be implemented by the book.


Perseverare Diabolicum

Last week the Council decided that Spain and Portugal’s recent efforts to reduce deficit were not enough. This lead to the two countries being fined, the first time this happens since the inception of the euro.

 


UK Budget: Deja-Vu, All Over Again

The Chancellor’s latest Budget saw the cumulative forecast for government borrowing over the next five years revised up by close to GBP 40bn. This reflects both weaker cyclical growth and also the Office for Budget Responsibility (OBR) taking a gloomier view on UK trend productivity growth.


IOSCO Secretary General David Wright

Markets supervisor: With its capital markets union Brussels is behind the curve

MADRID | March 26, 2015 | By Ana FuentesDavid Wright is charged with overseeing international securities regulators in his role as Secretary General for IOSCO. In an exclusive interview with The Corner, he speaks of the need for greater urgency in integrating global capital markets. He also notes that a failure to understand the changes taking place in global financial markets could be hindering economic growth.