Europe’s conflicting insolvency rules create uncertainty among investors, discourage cross-border investment and delay the restructuring of companies facing financial difficulty, writes Paul McGhee. Ironing out these inconsistencies will give businesses a better chance of bouncing back and deliver growth to the real economy, he argues.
The European Union's major reform of financial market rules faces a delay of a year to January 2018 to give the financial services industry more time to prepare, a senior European Commission official said on Tuesday (10 November).
Is securitization a safe financial product? Finance Commissioner Hill argued that the European record on securitization after the crisis has been “much stronger and much better” than in the US, and that the Capital Markets Union will follow the advice given by the ECB and the Bank of England, “highly conservative and regulation-minded institutions”. The EU has a good basis to work from, he told reporters on Wednesday (30 September).
The European Commission unveiled on Wednesday (30 September) its strategy to strengthen capital markets in Europe, and thus reduce the “very high dependence on bank funding", as President, Jean-Claude Juncker put it, when he took office last year.
The Capital Markets Union will only ever be able to complement the role of banks in Europe and Brussels should stop trying to enforce uniform rules on diverse financial institutions, writes Morten Messerschmidt.
Public support for the European Union's freedom of movement rules will dwindle if welfare abuse is not tackled, a top EU official said on Thursday (5 March), saying Britain can drive change in the Europe Union by engaging more with other member states.
The European Commission will consider reducing how much capital banks must hold against risk for a new class of asset-backed securities, a process of packaging and selling loans blamed for the financial crisis.
EXCLUSIVE: The Commission is set to test the waters on creating a new super-regulator for capital markets, despite opposition from the larger member states when it publishes a green paper later this month.