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European Monetary Fund: further integrating financial stability0
In December 2017 the European Commission published its proposal for the establishment of a European Monetary Fund (EMF) that should prevent a re-run of the 2010-12 sovereign debt crises. The proposal is part of a wider reform debate which could potentially lead to a revision of the EU fundamental Treaties. Nonetheless, member states still hold different positions on the matter and squaring the circle of their diverging interests will be a tough task.
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Ending money laundering in Europe: Does the “beneficial owner register” deliver?0
- Financial Policy and International Markets, Op-ed
- 22/02/2018
On December 6th last year, Luxembourg announced the draft law regarding beneficial ownership registration which will implement articles 30 and 31 of the Fourth Anti-Money Laundering Directive into the national legislation. By introducing such a law, the European Directive 2015/849, otherwise known as the Fourth Anti-Money Laundering Directive, tackled a serious problem in the fight against tax evasion and money laundering. The ultimate question: how much money is being hidden away?
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Basel 4 and European banks, are we safer now?1
- Financial Policy and International Markets, Op-ed
- 22/01/2018
The Basel Committee on Banking Supervision (BCBS) has recently agreed on a new set of rules with more restrictive requirements for the banking sector. These provisions will force European banks to converge to standardised risk-weighting of their assets by 2027 and should create better harmonisation of international capital requirements.
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Global financial governance: does the EU have a say?0
- Financial Policy and International Markets, Op-ed
- 28/02/2017
As the EU tries to create a single financial market, engaging in a global financial governance which is no longer preoccupied with the development of new standards and institutions but rather concentrates on the implementation of existing rules, can the EU still play a major role in this particular scene?
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2017: a new start for the EU–US partnership?0
Europe seems to perceive the day of Trump’s rise to power as a total disaster. But that does not imply that some of his ideas do not resonate with European citizens. Moreover, it does not mean the end of the U.S.-European partnership and the demise of European economic might.
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Central bank independence: Time for a change?0
The European Central Bank possibly is the most politically independent central bank of our times. But a new era of populism and the related pressures on central banks in the US and Great Britain should catch the attention of European policymakers concerning the relationship with their central bank.
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