Today, the European Commission has proposed new rules to stop the biggest and most complex banks from engaging in the risky activity of proprietary trading. The new rules would also give supervisors the power to require those banks to separate certain potentially risky trading activities from their deposit-taking business if the pursuit of such activities compromises financial stability. Alongside this proposal, the Commission has adopted accompanying measures aimed at increasing transparency of certain transactions in the shadow banking sector. These...

28 January 2014 -- ECOFIN Press Conference in Brussels | Remarks by Olli REHN Vice-President of the European Commission and member of the Commission responsible for Economic and Monetary Affairs and the Euro Let me begin by wishing Greece a successful and smooth Presidency on behalf of the European Commission. We very much look forward to working with you to take forward our common agenda of sustainable growth, job creation, better cohesion as well as to work towards a deep...

Today the Commission launches a special Advisory Group of experts representing a broad range of interests, from environmental, health, consumer and workers' interests to different business sectors to provide EU trade negotiators with high quality advice in the areas being negotiated in the Transatlantic Trade and Investment Partnership (TTIP) talks. The creation of this group confirms the Commission's commitment to close dialogue and exchange with all stakeholders in the TTIP talks, in order to achieve the best result for European...

The European Commission publishes today a non-paper clarifying its objectives for financial services in the negotiations for a Transatlantic Trade and Investment Partnership (TTIP). The EU proposes to establish, within the TTIP framework, a transparent and accountable process which would allow the two parties to work together towards strengthening financial stability. The objective is not to define (or re-define) the substance of international standards for financial regulation or to negotiate prudential rules. The objective is to create a workable platform...

Brussels, 22 January 2014 -- The European Commission is urging Member States to recognise the central importance of industry for creating jobs and growth and to mainstream industry-related competitiveness concerns across all policy areas. This is the key message of the communication For a European Industrial Renaissance, adopted today. The Commission calls on the Council and the Parliament to adopt proposals on energy, transport, space and digital communications networks as well as implement and enforce legislation to complete the...

This morning, the Senate Finance Committee held an important hearing on the recently introduced Trade Promotion Authority legislation. Senators Baucus and Hatch used their opening statements, which are linked below, to urge quick consideration and passage of the legislation. For more in-depth coverage of the hearing, you can find the list of witnesses, their prepared remarks, and a video of the proceedings here. Baucus Statement on the Need to Renew Trade Promotion Authority Senator Baucus argues that Congress needs Trade Promotion Authority...

European Green Capital Award: Green Cities Fit for Life Urban areas in Europe are the source of many of the continent’s current environmental challenges—not surprisingly, since three out of four Europeans live in towns and cities. Local governments and authorities can provide the commitment and innovation needed to tackle and resolve many of these problems. One of the policy tools the European Commission, the EU’s executive arm, is using to address these challenges is the European Green Capital Award (EGCA), which...

January 2014, Washington, DC - U.S. Trade Representative Michael Froman issued the following statement today regarding the introduction in Congress of the Bipartisan Congressional Trade Priorities Act of 2014: “I welcome the introduction of the Bipartisan Congressional Trade Priorities Act.  We expect to have a robust conversation on the Hill about how trade agreements should be negotiated and the role of Congress in that process.  We're eager to engage directly with Members of the Finance and Ways and Means Committees...