Finance & Trade

ECB Official Calls for Completion of Banking Union

August 02, 2017

Reuters reports that, according to the European Central Bank's (ECB) Governing Board member Francois Villeroy de Galhau, the EU must simplify its eurozone banking rules to complete the project of bringing all banks in the bloc under a single, supranational supervisor.
German Official: EU Must Retain "Major Part" of Euro Clearing

August 02, 2017

City A.M. reports that German Finance Minister Wolfgang Schäuble has called for the EU to retain the "major part" of the clearing of euro-denominated currency, much of which is currently located in London, within its territory after Brexit.
EU Revamps Finance Integration Plans in Light of Brexit

July 31, 2017

Reuters reports that a draft document from the European Commission calls for a restructuring of the EU's plans for a scaled-up "Capital Markets Union" to take into account Britain's departure from the bloc, including proposed legislation boosting the authority of the EU's European Securities and Markets Authority to advance the integration of finance policy.
Court Recognizes Broad Bank Supervision Authority of ECB

July 27, 2017

In a May judgment, the Court of Justice of the EU (ECJ) held that the European Central Bank (ECB) had broad authority to determine that it was better positioned to supervise the state-owned investment and development bank of Baden-Württemberg, Germany, than the German government.
ECJ Raises Obstacles to Quick EU Trade Deals

July 26, 2017

Bloomberg reports that a Court of Justice of the EU (ECJ) ruling in May requiring EU institutions to seek approval of parts of a trade deal with Singapore by the bloc's member states could place significant obstacles in the path of the speedy negotiation of a free trade deal between Britain and the EU after Brexit.
Bundesbank Rejects Push to Lure UK Bank Business

July 24, 2017

Politico reports that a board member of Germany's central bank, Andreas Dombret, has announced that the Bundesbank will not pursue a strategy of luring British banks to Germany following Brexit using campaigning or perks because the bank's top priority is maintaining stability in the European banking system.
EEA Study Calls for Major Increase in "Climate Finance"

July 14, 2017

The European Environment Agency (EEA) has released a study analyzing the climate finance plans of all 33 member states and arguing that most national governments are failing to plan for the transition to a “low-carbon, climate-resilient economy” by directing sufficient investments toward environmentally friendly development.
Newman: UK Should Focus on Israel Trade After Brexit

June 22, 2017

Director of UK think tank Open Europe Henry Newman writes that, upon its exit from the EU, the UK should consider Israel as a priority partner with which it should negotiate a free trade deal to tap billion of pounds that would result from facilitating economic exchange between the two countries.
Report Explores Post-Brexit UK Trade Options

June 06, 2017

A recent report from think tank Open Europe explores how the UK should take advantage of new trade policy options and exploit its "soft power assets" in countries around the world to increase trade and spur economic progress after the country leaves the EU.
ECB Board Member Seeks Completion of Banking Union

May 25, 2017

In a set of talking points for a panel on "relaunching the eurozone," member of the executive board of the European Central Bank (ECB) Peter Praet promotes the need for an "ambitious timetable" to complete the EU's "banking union" in order to provide for centralized supervision of banks and a financial "backstop" to cover the risks of failing financial institutions.