Financial regulation
EU banking regulator: ‘No green economy if we encourage banks to be insolvent’
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.
König: I don’t believe in gender quotas
For many, the banking union represents the most ambitious step in EU integration since the creation of the euro. As the chairwoman of the new authority to resolve European systemic banks, Elke König, has been in the driving seat of the process.
Le Maire: ‘Capitalism is in a dead end, must reinvent itself’
French finance minister Bruno Le Maire is determined to chair an “efficient” meeting with his colleagues of the G7 countries on Wednesday and Thursday. His goal is no less than to refound capitalism. As a first step, he wants to reach an agreement on the main features of digital tax, to pave the way for an international compromise by early next year.
CDP boss: ‘Companies or sectors may face liability risks on climate change’
Private investors need to come clean and commit to science-based targets on climate change, says Paul Simpson. Unfortunately, “there is still money out there for the dirty investments in the short term,” he laments, calling on regulators to take action against opaque finance.
Tax campaigner: No one noticed LuxLeaks in Central and Eastern Europe
The LuxLeaks and Panama Papers scandals got hardly any attention in Central and Eastern European countries, Ondřej Kopečný told EURACTIV.com. The tax campaigner called on Brussels to push for greater awareness of the dangers of tax evasion in the region.
Moscovici: Trump’s US could be tax haven blacklisted
EXCLUSIVE / The EU’s tax haven blacklist is taking shape, as the European Commission uses the momentum generated by the LuxLeaks and Panama Papers scandals. Tax Commissioner Pierre Moscovici did not rule out including the United States on the list, in interview with EURACTIV.com.
Financial expert: Deutsche Bank collapse ‘would probably trigger new global financial crisis’
Deutsche Bank is in crisis mode and its collapse could signal the beginning of a whole new set of economic woes for Germany, the EU and even the entire global financial system, expert Michael Schröder told EURACTIV Germany. But he insists that state aid is not the answer.
Bitcoin expert: EU should ‘wait and see’ before regulating blockchain
Lawmakers are debating how to deal with virtual currencies and, in particular, with the promising technology behind them: blockchain. Patrick Murck, co-founder of Bitcoin Foundation, believes that the current ‘hands-off’ approach is the right one.
Venture capitalist: Private equity is weathering the financial storm
Levels of private equity investment have increased in 12 European countries despite the listless economy, a recent report shows. Vincenzo Morelli tells EURACTIV the findings show that companies backed by private equity are the most innovative in Europe.
Kwa?niewski: Poland should join the eurozone within five years
The next EU step for Poland should be joining the eurozone within three to five years. It would be dangerous for the EU if Poland does not take that step, says Aleksander Kwa?niewski.
Pharma chief: ‘Governments are hitting this industry very hard’
Europe’s debt crisis is hitting health budgets, leading to unpaid bills for pharmaceutical products, warns the head of Europe's pharma industry association, EFPIA, in an interview with EURACTIV. According to Richard Bergström, the industry is near breaking point and the issue needs to be discussed at the highest policy making levels.
Du Monceau: ‘Bridge’ must be built between NGOs and finance
The gap between non-governmental organisations and international financial institutions must be bridged if global environmental and social problems are to be resolved, says Cédric du Monceau in an interview with EURACTIV.
Solar thermal chief: ‘ We have experienced two years of recession’
The solar thermal sector has been hit badly by the crisis in the construction sector, which had a direct impact on the heating industry, said Xavier Noyon, secretary-general of the European Solar Thermal Industry Federation (ESTIF).
Ambassador: Don’t underestimate Spain’s financial system
Due to its strict supervision mechanisms, Spain's financial system is ''much more solid'' than many others and there are absolutely no plans to ask the EU for help, Rafael Dezcallar de Mazarredo, Spanish ambassador to Berlin, told EURACTIV Germany in a recent interview.
Expert: Euro helped Montenegro achieve stability
Since its declaration of independence in 2006, Montenegro has made considerable progress towards EU integration and the country's use of the euro has helped it become economically stable and attractive to investors, Zden?k Sychra, a European studies expert at Masaryk University, told EURACTIV Czech Republic in an interview.NGO: ‘Reform EU financial expert groups’
"The European Commission should reform the way it takes advice on financial matters and it cannot do that without bringing about a deep change in its financial expert groups," Yiorgos Vassalos, a researcher at the Corporate Europe Observatory (CEO), told EURACTIV Germany in an interview.
Expert: Crisis exposed EU’s weaknesses
"The crisis demonstrated the limited capacity of EU institutions to conduct Union-wide anti-crisis policies," Marek D?browski, president of the Centre for Social and Economic Research (CASE), told EURACTIV in an interview, predicting a "near-stagnation scenario" for many EU economies.Lawmaker: ‘Financial regulation must be tailored’
As the European Parliament inaugurated its brand new special committee on the financial crisis, Wolf Klinz, the panel's chair, warned fellow lawmakers that "we must be prepared to have our own views on the degree of European regulation challenged". He spoke to EURACTIV in an interview.
Johnson: I don’t want to see Europe make ‘unforced errors’
The draft AIFM directive will divert investment away from Europe, Boris Johnson, the mayor of London, told EURACTIV in an interview.
IPCC chief urges US to match EU climate goals
The US must not do less than the EU to cut greenhouse gas emissions, said in an exclusive interview with EURACTIV Rajendra Pachauri, chair of the UN's Intergovernmental Panel on Climate Change, which received the Nobel peace prize in 2007 together with former US vice-president Al Gore.
Rasmussen: On a mission to regulate hedge funds
By supporting tighter regulation on hedge funds and private equity on 10 September, the European Parliament's Economic Committee may have signalled the end of an era for the financial sector. Poul Nyrup Rasmussen, president of the Party of European Socialists, told EURACTIV why he thinks events have taken a new turn.
Van Den Burg on retail financial services: ‘We should not be over-ambitious’
National traditions and competences on consumer protection should not be sacrificed for the sake of creating a single market for retail financial services - such as banking, insurance and mortgages - because ultimately, these services will remain domestic, Socialist MEP Ieke van den Burg told EURACTIV in an interview. Ieke van den Burg is a Socialist MEP and was Parliament's rapporteur on the EU's financial services policy.
Professor: In support of streamlined financial rules for SMEs
New York University Professor Thomas Philippon supports streamlined financial rules and bankruptcy regualtion in Europe in order to stimulate start-ups and support economic growth, he told EURACTIV in an interview.