The European Union’s founding fathers reacted to the bloodshed and destruction of World War II by concocting a scheme designed to inextricably link Europe’s coal and steel industries and prevent wars from ravaging the European continent in the future. On May 9, 1950, French Foreign Minister Robert Schuman announced a plan—in a speech inspired by French businessman-turned-advisor Jean Monnet—that proposed pooling European coal and steel production under a common authority. While contributing to postwar economic recovery, this plan would also control...

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The Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission is pleased to inform you about its newest publications for your free download as PDF: The future of EMU Economic growth perspectives for Europe These two Economic Briefs provide an overview of the broad range of economic research papers on the two topics written by leading scholars under the auspices of DG ECFIN's Fellowship Initiative 2012 - 13. The two papers outline the issues addressed in the...

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ESMA published its Final Report Draft Regulatory Technical Standards on Types of AIFM. The final report sets out in its Annex IV the draft regulatory technical standards (RTS) required by Article 4(4) AIFMD. The draft RTS in Annex IV will now be submitted to the Commission for endorsement or rejection within 3 months of receipt. It will also be forwarded to the European Parliament and Council. If adopted, the RTS will take the form of a Commission Regulation. It will enter...

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The European Parliament's Committee on Economic and Monetary Affairs (ECON) published its draft report on the proposal for a Council directive implementing enhanced cooperation in the area of the Financial Transaction Tax (FTT). The committee suggests: closing a loophole of the issuance principle as far as OTC derivatives are concerned; reintroducing the ownership principle, according to which a financial transaction in relation to which no FTT has been levied is not legally enforceable and does not result in a transfer of legal...

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Speaking at a conference organized by the U.S. Embassy in Dublin, Ireland, European Union Trade Commissioner Karel De Gucht pointed out that the Transatlantic Trade and Investment Partnership is a cost-effective stimulus package, providing a growth boost to the transatlantic economy as well as ensuring that neither the U.S. nor the EU would slide back into protectionism as it would make clear that both "are willing to put their beliefs into practice by opening their markets even further." Commissioner De Gucht...

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Remarks at EuroPlace Conference at NYSE:   Paris EUROPLACE International Financial Forum in New York -- 22 April 2013 Ladies and Gentlemen, I am delighted to have the opportunity to address such a distinguished and international audience, in the wake of the G20 and IMF meetings in Washington. During the G20 discussions, the overwhelming concern was how to boost growth and job creation. We discussed the short-term effects of fiscal policy in this respect, the continued need for structural reform, as well as the...

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