BRUSSELS | By Neelie Kroes, vice-president of the European Commission | “It’s just one example of how the right measures can be good for everyone: providing the certainty needed for the sector to invest and grow; and benefiting citizens.”
In five out of nine times that the European Council has met since January 2011, market expectations have been missed. Analysts at BNP Paribas have done the research, which supports the heavy air of pessimism surrounding this Thursday's euro summit that is set to present some sort of action plan on Friday. “Although it is improbable that we get a final solution to the euro area crisis,” BNP Paribas said…
MADRID | All of the sudden, the feeling things might be spinning out of control has cast a gloomy mood in Spain. For a country lavishly living on others savings, finding itself short of cash has come as a shock-horror revelation. It now faces the unsparing rigour of lying in the hands of fickle and merciless markets. The deep-rooted assumption that confidence gap would be bridged as soon as the…
i want you back letter for boyfriend LONDON | The European Commission on Wednesday tumbled and mumbled about the set up of a banking union. Although urgently needed, it would only languish in the corridors, even provided a sudden agreement to push it through could be met. The European Union has no main political door, as it lacks of an executive body directly propped up by a legislative chamber: both…
She is the most experienced member of the European Commission and it shows. In her third term at the European institution, Viviane Reding does not shy away from discussing almost any subject, not even the poor economic situation of Spain, which she addressed in detail during an exclusive interview with Cinco Días. Reding is travelling on Thursday to Madrid, to meet with several members The official thesis in Brussels finds…
By Juan Pedro Marín Arrese, in Madrid | The European Commission has developed a masterful command in saying things it does not believe in. The latest growth forecasts stand as an example of this hollow rhetoric. Reading the small print it seems clear the Commission sticks to obviousness in conceding we are stuck in a sharp downturn. When it comes to guessing what might lie on stock for the rest of…
The European Commission on Wednesday gave the green light to the state rescue operation of Hungarian bank FHB. A recapitalisation of HUF 30 billion (app. €100 million) and a loan under the Hungarian liquidity scheme of approximately HUF 120 billion (approximately €400 million) for the Hungarian bank FHB were put in place in accordance to EU state aid framework, the Commission ruled. After an in-depth investigation, the Commission concluded that the…
LONDON | The Investment Management Association sent Friday an unequivocal message to the European Commission: do mess with the risk rating agencies at your peril. In its written submission to the Treasury Select Committee Inquiry into credit rating agencies, the trade body for the UK’s £4 trillion asset management industry IMA defended the independent role of credit rating agencies. The IMA said they must be allowed to act free from political interference….