for Britain”, stressing that he would work with “pragmatism” in the talks with Britain about reforms of the EU. According to Politico, EU Commission officials are exploring legal scenarios in which they could undertake EU reforms without direct input from the European Parliament. The Commission wants to move the EU reform talks with Britain forward more quickly because it is worried that the refugee crisis is worsening the chances of a British In vote, Politico wrote. British Prime Minister David Cameron has said he would present his EU reform demands in a letter to European Council President
bondholders of Italian banks were excluded from bail-in, this would amount to an expansion of the existing scope of protection of the deposit guarantee system. The Italian government would probably justify such an exclusion with the argument of misselling. Banks should never have sold their subordinated bonds to retail customers because they were too risky. Interestingly, the European directive on investor-compensation schemes (Directive 97/9/EC) does not provide for compensation for misselling. Since 2010, several attempts of the European commission to expand the scope of protection of the directive failed due to the
In a new research paper, the organisation suggests that the UK could follow a so-called "Ukraine Plus" model and establish a relationship with the EU similar to that of the Eastern European state. ...read on
European Union (probably on 18 October 2016). The Court however requires the Federal Government to ensure, - that a Council Decision on provisional application will only include areas of CETA which indisputably fall within the competence of the European Union, - that, until a decision has been passed by the Federal Constitutional Court in the main action, there must be sufficient democratic accountability [...] requirements are complied with, there is no risk of any serious detriment, either to the rights of the applicants or to the German Bundestag's participation rights, such as would justify an interim injunction as
The collapse of the Portuguese bank seemed to have all the makings of a disaster. With little warning, a government in one of Europe’s most financially weak countries was suddenly confronted with a multibillion-euro rescue of Banco Espírito Santo. ... Analysts were wary on Monday of drawing too much reassurance from the relatively orderly way that Portuguese and European Union regulators managed the rescue. The [...] such readily available funds. “If the problem is too big and the country is too weak, it might be difficult,” said Bert Van Roosebeke, head of financial markets at the Center for European Policy, a
newspapers also trashed the deal, dubbing it a “farce”, a “joke” or a “delusion”, the news agency wrote. On Tuesday, Cameron said Britain could hold its EU membership referendum within "a few months" if other EU member states back the reform proposals announced by European Council President Donald Tusk. cep economist Bert Van Roosebeke told Spiegel Online he doubted that the details of the proposals will play a deciding role in the outcome of the referendum. “The debate is getting increasingly emotional,” Van Roosebeke said.
Eurogroup chairman Jeroen Dijsselbloem has warned that EU member states which fail to adequately guard the external borders of the European Union and do not take in a fair share of refugees could find themselves outside the borders of a future “mini-Schengen” zone, Reuters reported. Dijsselbloem, who is Dutch finance minister, called for more joint investment in border guarding and for more support for refugee camps in Turkey and Lebanon.”If we do not do it in the external borders of the EU's 28 members, or in the Schengen zone, then maybe we will have to do it on the level of a mini-Schengen
this week’s Eurogroup meeting in Riga. “The Riga Eurogroup meeting will be a chance to take stock of talks,” Dombrovskis said. “Hopefully Greece will be able to provide a reform package for the next meeting in May.” Meanwhile, the head of the IMF's department in Europe, Poul Thomsen, told German business daily Handelsblatt that Greece's bailout talks had gathered “a little more momentum" but the two [...] ,” Kullas said. “For this reason, the European institutions are well advised to prepare themselves for a Greek payment default.”
Discussions in the European Central Bank about a possible large scale program for purchasing government bonds are well advanced, ECB Executive Board member Benoit Coeure told German daily Die Welt. “Last week, we discussed lots of technical details,” Coeure explained. “In any case, we will be able to take a decision on 22 January. Which does not mean that we have, in fact, already reached a decision [...] . “Yields on government bonds are already so low that it is questionable whether a QE program could bring any added value,” he said.
The European Central Bank has the right to undertake its OMT government bond purchasing program as a monetary policy measure, the advocate general of the European Court of Justice (ECJ) said Wednesday. However, the ECB would not be allowed any longer to set the fiscal and reform requirements for euro crisis states, which then become a condition for the OMT program itself. cep expert Bert Van [...] advocate general, for example, could have said that the ECB can only purchase a maximum of 20 percent of Italian bonds,” Van Roosebeke said.