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Brexit: Protecting the Rights of Millions of EU citizens Living in the UK

Although few of them were allowed to vote during the referendum, the millions of EU citizens living in the UK will be among those affected the most by Brexit. The EU wants to reach a deal to protect their rights as soon as possible during the upcoming negotiations with the UK. This week Parliament is holding a hearing on the situation and rights of EU citizens in the UK. Watch the meeting live online and check out our infographic...

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Future of the EU: Harnessing Globalisation

Globalisation offers great potential to create wealth and jobs, but it also has the capacity to disrupt. The EU has always tried to make the most of it, while mitigating its negative effects by setting rules and working together with other countries. As the European Commission publishes on 10 May a reflection paper on how the EU should deal with globalisation in the future, we take a look at what Parliament has already done recently. What Parliament has done recently The...

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EU Tax Rules are not Currently Prepared for the Digital Economy

European tax rules are not currently prepared for the digital economy. They need to be adapted to reality in order to offer the people of Europe a more prosperous future. This was the main message of the European Economic and Social Committee (EESC) debate on Taxation of the Digital Economy held on 5th May. “The digital economy is no longer just a part of the economy, but is becoming the actual economy itself”, stated the keynote speaker, Rita de la...

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Brexit News, Chapter News

Bank of England sets out bailout bond requirements for UK banks

The Bank of England on Friday made public for the first time how many special loss-absorbing bonds British-based banks must issue to prevent taxpayers having to pay for bank bailouts in the future. by Huw Jones The bonds, known as MREL, are aimed at ending "too big to fail" banks, which means banks will have enough resources to draw on in a crisis without going cap in hand to taxpayers. MREL bonds convert into equity capital once a bank's main capital reserves...

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Closer to CMU in Europe? Commission proposes simpler and more efficient derivatives rules

The European Commission is today proposing some targeted reforms to improve the functioning of the derivatives market in the EU. The reforms provide simpler and more proportionate rules for over-the-counter derivatives to reduce costs and regulatory burdens for market participants without compromising financial stability. A good example of better regulation in practice, this is essential to the creation of a Capital Markets Union (CMU), a key part of the Investment Plan for Europe, and for investments, growth and jobs...

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ESMA’s Evert van Walsum on Level II Measures and Reports under the CRA Regulation

Evert van Walsum, Head, Investors and Issuers Department European Securities and Markets Authority: Dear Members of the European Parliament Ladies and Gentlemen I would like to thank your Committee for hosting this scrutiny session on level II measures and reports under the CRA Regulation. I am grateful for this opportunity to share with you some of the experience and insights ESMA has gained through its work on these important and challenging items. In my remarks, I will first provide some context...

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Commission takes new steps to enhance compliance and practical functioning of the EU Single Market

Commission takes new steps to enhance compliance and practical functioning of the EU Single Market Today's package of measures will make it easier for people and companies to manage their paperwork online in their home country or when working, living or doing business in another EU country and it will help ensure that commonly agreed EU rules are respected. Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness, said: "EU rules protect and empower 500 million people in the Single Market....

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IMF Spring Meetings 2017: Keeping Growth on Track

The world’s economic leaders and stakeholders came together at the 2017 IMF and World Bank Spring Meetings amid a more positive outlook on the global growth, which is forecast to hit its fastest pace in five years. A clear theme running through the meetings was the need to protect the growth momentum, given policy and political uncertainties, and to help ensure that everyone has the opportunity to share in the fruits of global integration and technological progress. More than 10,000...

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Brexit News, Chapter News

Brexit Update: President Juncker at Brexit European Council

President Juncker participates in the European Council to prepare the Brexit negotiating mandate and helps finding solutions on a number of bilateral issues. At the European Council on Article 50 today, leaders adopted the EU's Political Guidelines for the Brexit negotiations. President Juncker welcomed the adoption of the Political Guidelines which reflect the joint work of President Juncker and President Tusk and their teams. He also underlined the Commission's commitment to defending the interests of the EU27 and building the best...

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Belonging to the EU is a Good Thing, Say a Growing Number of Citizens

In the eyes of a growing number of citizens, belonging to the EU is a good thing. According to the latest Eurobarometer survey of Europeans’ attitudes, figures are virtually back at their pre-crisis levels in 2007. The survey, commissioned by the Parliament and published on Thursday, shows that EU membership is a good thing in the eyes of 57% of Europeans, up by four percentage points compared to the previous survey of September last year and almost at the same...

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