Sylvie Goulard - Group of the Alliance of Liberals and Democrats for Europe
On the basis of the report[1] by the high-level group, chaired by Jacques de Larosière, last year the Commission tabled a package consisting of the creation of a European Systemic Risk Board, under the auspices of the European Central Bank, dealing with macro [...]
Godfrey Bloom – Europe of Freedom and Democracy Group
The concept of financial regulation across 27 countries most of whom have no experience of financial services is not just flawed but dangerous. The United Kingdom, yes the City of London, is the only world class centre for financial services in the European Union. This is [...]
Pervenche Berés – Group of the Progressive Alliance of Socialists and Democrats in the European Parliament
The supervisory package currently under consideration and based on the conclusions of the de Larosière group constitutes an important step ahead. However, further steps will be needed for the future structure of EU supervision if we want to avoid [...]
Nikolaos Chountis – Confederal Group of the European United Left – Nordic Green Left
After the stock market and oil crisis in 1970s, the world economic system in general, and the financial system in particular, were based on three “pillars”: a) the collapse of the fixed exchange rates system, b) the internationalization and liberalization of [...]
Rodi Kratsa-Tsagaropoulou – Group of the European People’s Party
The end of this decade coincided with an enormous financial crisis, whose epicentre was the financial sector. Many would argue that all the mess that was brought forward because of the globalization of the markets could have been avoided, or at least its effects been mitigated, [...]
Set a point of no return, move past it, don’t worry about public opinion and let the details take care of themselves”. This is how Chancellor Helmut Kohl summarized the strategy that led to Maastricht and EMU. A policy well disliked by the German public that was unwilling to sacrifice the Deutschmark for the sake [...]
When Prime Minister Zapatero announced a few weeks ago their plan to reduce the Spanish budget deficit, he said that the main problems of the Spanish economy are a 20% of unemployment rate and an 11.2% rate of public deficit. He was wrong again. Deficit and unemployment are not the problems but their consequences.
This financial [...]
It was already in the early 1990s when Nikiforos Diamandouros and Nikos Mouzelis, two eminent Greek scholars, were writing about the conflict between two dominant political cultures in Greece: the ‘underdog’ culture (notably a pre-democratic culture favouring clientelistic networks of power, bearing a strong imprint of the Orthodox Church and its anti-Western world view, with [...]
ELIAMEP: The global financial crisis is the first major challenge for the euro as a multi-national currency. Although early indications suggest that the eurozone countries are weathering the storm, this has not stopped prominent economists such as Martin Feldstein (Harvard University) from cautioning that ‘the current financial crisis may provide a severe test of the [...]
Amidst all the concern about the effects of the global economic and financial crisis, there has been much analysis about its consequences for the markets, employment, the future nature of capitalism, migration, and the prospects for a green economy. There has been significantly less talk about the setbacks this global financial crisis may have on [...]
