News

  • 19 July 2017

    On 7 July 2017, the Council, appointed Mariya Gabriel as the new commissioner for digital economy and society. A few days later, EU Finance ministers met in Brussels to adopt conclusions on the Commission's review of the EU's capital markets union action plan, and on non-performing loans in the banking sector.  The Council also issued its 2017 recommendations and opinions on the member states' economic, employment and fiscal policies.

  • 10 July 2017

    Over the next 6 months, the Estonian presidency will focus on 4 important areas: an open and innovative European economy, a safe Europe, a digital Europe and free movement of data, and an inclusive and sustainable Europe. As announced in the interim evaluation of the digital single market, the European Commission will increase its efforts to close the gaps in the current cybersecurity framework.

  • 27 June 2017

    The European Commission imposes stricter supervision for central counterparties. During the ECOFIN meeting on June 16th, the Council agreed on its position on IFRS 9 and a unsecured debt instruments. The Brexit negotiations started June 19th.

  • 16 June 2017

    On 30 May 2017, the European Parliament, Council and Commission reached agreement on proposals aimed at facilitating the development of a securitisation market in Europe. A day later, the Commission presented a reflection paper on the deepening of the Economic and Monetary Union. Furthermore, on  8 June, the Commission presented its Mid-Term Review on the Capital Markets Union.

  • 1 June 2017

    On April 29, President Tusk called a special European Council to adopt the EU’s negotiation guidelines for Brexit talks. At last week’s ECOFIN meeting, a range of tax-related issues were discussed. Furthermore, on May 17, the European Parliament adopted an own-initiative report on FinTech.

  • 7 April 2017

    Last week, the European Parliament published an article explaining the next steps following the implementation of Article 50 of the Treaty of the EU. A couple of days later, AFME presented a report on the challenges of Brexit for wholesale banking. In addition to these Brexit related topics, the European Commission decided to prohibit the proposed merger between Deutsche Börse and the London Stock Exchange Group. On April 4, the ECB announced the circulation of a new and safe €50 banknote. One day later, the EBA published its updated Risk Dashboard summarising the main challenges for the EU banking sector.

  • 31 March 2017

    A historical week for the EU. On Wednesday, March 29, 2017, British Prime Minister Theresa May signed Article 50, formally starting the process of Britain’s exit from the European Union. Earlier that week, the EU leaders came together in Rome to celebrate the 60th anniversary of the Treaty of Rome. Donald Tusk, president of the European Council, gave a speech on this occasion. In addition to these historical events, On March 25, 2017, the Commission published a Report on accelerating the capital markets union. On March 28, 2017, the European Association of Co-operative Banks listed several recommendations in its “Co-operative Banks Declaration: the way forward”. On the same day, Benoît Cœuré, Member of the Executive Board of the ECB, gave a speech about the monetary policy of the ECB.

  • 15 March 2017

    Last week, Donald Tusk was re-elected as President of the European Council. On March 9, 2017, the ECB announced that there will be no changes as for the basic interest rates. A new AFME report on the challenges of raising pre-IPO funding was published on March 7, 2017. Furthermore, the European Commission has published an update of the EU Member States’ DESI score (Digital Economy and Society Index).

  • 6 March 2017

    The Bruegel think tank has recently published an article about the consequences of the Brexit for the European financial sector and the modifications which will have to be made to the European Union financial regulation. On 1 March 2017, the European Commission published a Whitebook on the future of Europe.

  • 19 January 2017

    For the next 6 months, the presidency of the EU Council will be entrusted to Malta, which has made the further development of the European single market one of its major aims. On January 10, 2017, the European Commission proposed a number of policy and legal measures aimed at fostering the EU data-based economy.

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