Mixed developments underline importance of ambitious capital markets union and completion of the banking union New quality indicator shows limited private cross-country risk-sharing Development of more pan-European banks could help financial integration and foster risk-sharing via retail credit markets Overall financial integration in the euro area stalled last year, the European Central Bank’s (ECB) annual report on Financial Integration in Europe shows. The report was published today at a joint conference with the European Commission in Brussels. After some...

Read more

From a debate on Brexit negotiations to refugee relocation and the situation in Hungary: read our overview of this week's plenary session. Brexit During Wednesday's debate on the European Council of 29 April dedicated to Brexit, MEPs welcomed the unity shown by EU countries ahead of negotiations with the UK, but also insisted on a reform of the EU taking place at the same time. Hungary MEPs criticised the “serious deterioration" of the rules of law and democracy in Hungary on Wednesday and adopted a...

Read more

Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Deutsche Bundesbank’s payment and securities settlement symposium 2017, Frankfurt am Main, 18 May 2017 Fintech has created the potential for the design and implementation of innovative financial services that can better serve users’ needs in terms of speed and convenience. Innovative developments that lead to better services can support commerce, in particular e-commerce, as well as productivity and income growth. To fulfil its mandate under the Treaty,...

Read more

By Christine Lagarde Finance ministers and central bank governors from the G7 countries met in Bari, Italy, this weekend to consider global economic issues, including steps to maintain economic stability and improving gender equality as important agenda items. Women’s economic empowerment has long been an international priority, of course. The G6—as it was then—was first created in 1975, a year named “International Women’s Year” by the United Nations to help more women worldwide realize their full potential. Mountain climber Junko Tabei masterfully demonstrated...

Read more

“A strong and united Europe is an absolutely fundamental pillar of a strong and effective United Nations," said António Guterres, addressing MEPs in Strasbourg on 17 May. The Portueguese UN Secretary-General, the first European one since Austria’s Kurt Waldheim in the early 1980s, said global challenges such as the multiplication of conflicts, a human rights violations, climate change and globalisation required the EU and the UN to work together. Welcoming Guterres, Parliament President Antonio Tajani pointed out that both the...

Read more

The Board of the European Investment Bank today approved a total of EUR 10.8 billion of new financing for 43 projects in the fields of energy, social housing, and support for business and innovation investment across Europe and beyond. “The EIB continues to deliver for Europe’s citizens, mobilising new investment to enhance economic opportunities. Financial projects approved today will support construction of new homes for thousands of families and allow high-speed internet access in towns and rural areas across Europe.”...

Read more

It is a pleasure to be here to discuss Connectivity - the driving force of the twenty-first century. The Asian Development Bank estimates that Asia faces a $26tn infrastructure gap until 2030. Done the right way, more investment in cross-border infrastructure links could boost sustainable growth for all. That is why it is in Europe's interest to be part of this Initiative. China is at one end of the Belt and Road – Europe at the other. Our Trans-European Networks...

Read more

The external positions of BIS reporting banks in Central, Eastern and South Eastern Europe (CESEE) have broadly stabilized, and post-crisis deleveraging seems to have been largely completed, while banks’ strategies in the region have become more selective, according to two new reports from the Vienna Initiative. A third such report shows that levels of bad loans in the region declined in the year to mid-2016, but in several countries, they continue to have a negative impact on the local...

Read more