Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 338

Posts Tagged ‘monetary’

Committee on Economic and Monetary Affairs

Posted by fidest press agency su lunedì, 30 novembre 2020

Brussels. Wednesday 2 December, ECON meeting: 13.45 – 15.45 and 16.45-18.45 Room: József Antall (4Q2)Votes Framework for the recovery and resolution of central counterparties rapporteurs: Marek Belka (S&D, PL) Johan Van Overtveldt (ECR, BE) Adoption of draft recommendation for second reading Commission Regulation amending Regulation (EC) N° 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) N° 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard 39 and International Financial Reporting Standards 4, 7, 9 and 16 Adoption of a Recommendation for “early non-objection • Public Hearing with experts and representatives of stakeholders on improving the accountability of the European Central Bank 16.45-17.45 • Presentation of the study on the “Options for the ECB’s Monetary Policy Strategy Review” 17.45-18.45 Presentation of the “fast track peer review on the application of the guidelines on the enforcement of financial information (ESMA/2014/1293) by BaFin and FREP in the context of Wirecard” Exchange of views with Steven Maijoor, Chair of the European Securities and Markets Authority Next meetings Monday 7 December 2020, 11:00 – 13:00 (ECON-EMPL), Thursday 10 December, 09:00 – 11:00

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , , | Leave a Comment »

Economic and monetary affairs committee calls for boostingthe EU FinTech sector

Posted by fidest press agency su domenica, 13 settembre 2020

MEPs advocated for a robust EU framework for crypto-assets, cyber resilience, data sharing and customer safety, in a non-binding report adopted on Thursday.MEPs of the Economic and Monetary Affairs committee welcomed the Commission’s commitment to finalising an Action Plan on FinTech by the third quarter of 2020. They stress that any measures taken at the EU level should leave all market participants space to innovate, be proportional and technologically neutral, risk based and allow for high levels of consumer and investor protection. They call for a common European model with a crucial role for the European Supervisory Authorities (ESAs) and international cooperation for standards setting.
In their recommendation, MEPs focused on crypto assets, calling for a comprehensive pan-European open-ended taxonomy for new products, as well as for a common monitoring and supervision framework. They point to regulatory gaps in the EU legislation such as that concerning anti-money laundering and advise targeted changes to the existing provisions.
In their report, MEPs highlight a need for a common approach to cyber resilience of the financial sector. They call for legislative changes in the area of ICT and cyber security requirements for the EU financial sector with a focus on modernisation, compliance with international standards and operational resilience testing.Finally, MEPs stress that the free flow of data within the EU is necessary to scale up innovative finance but cross-border data flows, including to and from third countries, must be monitored and governed under the EU legislation on privacy and data protection.Digital finance plays a key role in developing financial activities and will be integral to the success of the Capital Markets Union (CMU), says the text. It will increase financing and investment options for companies and citizens and has a potential to help close the SME financing gap. The text was adopted with 44 votes to 5 and 8 abstentions.

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , , | Leave a Comment »

Committee on Economic and Monetary Affairs

Posted by fidest press agency su lunedì, 31 agosto 2020

Brussels Wednesday, 2 September, József Antall (4Q2), 9.00-9.35 Appointment of the Chair of the CCP Supervisory Committeerapporteur Irene Tinagli (S&D, IT)Exchange of views with the selected candidate, Klaus Löber
9.35-10.15 Appointment of an Independent Member of the CCP Supervisory Committee rapporteur Irene Tinagli (S&D, IT)
Exchange of views with the selected candidate, Nicoletta GiustoExchange of views with the selected candidate, Froukelien Wendt13.45-14.14: VOTES
14.14-15.45Economic dialogue and exchange of views with Olaf Scholz, ECOFIN Chair and Federal Minister of Finance and Vice Chancellor of Germany
Next meeting: BUDG-ECON: Monday 7 September 2020, 15:00 – 15:30 & 17:30 – 18:00

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , , | Leave a Comment »

MEPs: Focus on crisis response when coordinating economic and budgetary policies

Posted by fidest press agency su domenica, 31 Maggio 2020

Economic and Monetary Affairs Committee (ECON) MEPs stressed that in order to become a proper recovery tool, the Commission’s Country-Specific Recommendations (CSR) have to be implemented in the member states and must take into account a post-crisis reality. Executive Vice-President Dombrovskis pointed to the resilience facility, the new recovery instrument designed to improve the implementation of the CSR. Commissioner Gentiloni explained that each country, together with the Commission, will have to prepare a tailor-made recovery and resilience plan, in which the member states’ post-crisis priorities should be ensured.Other ECON MEPs were concerned about the general escape clause, which allows the excessive deficit procedure against a member state to be put on hold in times of a severe economic downturn. MEPs wanted to know when the procedure will kick in again and how to keep the right balance between debt sustainability and much-needed investments.
Mr Dombrovskis stressed that the Stability and Growth Pact has been put on hold until the economy is growing again; then the rules start to reapply. Commissioner Gentiloni called for the Council and the Parliament to come to an agreement quickly, so that funds can reach recipients on the ground and the economy can rebound.Finally, MEPs asked about the connection between the rule of law and access to EU funds. Executive Vice-President Dombrovskis reminded MEPs that rule of law is a condition to access EU funding.Commissioner for Jobs and Social Rights Nicolas Schmit said that the latest unemployment forecast for the EU in 2020 stands at 9 % and one out of four workers is currently on a short-time work schedule. Several Members from the Employment and Social Affairs Committee (EMPL) voiced their deep concern that the unemployment level for Europe’s youth is nearly twice as high as that of all job seekers.Commissioner Schmit underlined that fighting youth unemployment remains a priority and that the Commission will reinforce the youth guarantee to improve the prospects for young people.The risk of creating a digital divide when demand for highly-qualified workers will increase, especially in the context of the digital and green transition, was another point of concern for MEPs, who noted that the measures in the context of the green deal could lead to job losses and exacerbate poverty and inequality.According to Mr Dombrovksis, the green deal will actually have a positive effect on the economy and will create new jobs, with digital skills featuring prominently on the upcoming reinforced skills agenda.
MEPs also underlined that the crisis has exposed the shortcomings of our current social model and that the European Semester has to be at the service of recovery and a transformation that is social, economically fair and green. Commissioner Schmit highlighted that the social dimension is anchored in the European Semester by means of the social scoreboard and that the Commission tackles problems related to precarious work with initiatives such as fair and predictable working conditions, proposals for an EU minimum wage, working conditions of platform workers, and a child guarantee.

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , | Leave a Comment »

COVID-19: Single market must emerge stronger from the crisis, say MEPs

Posted by fidest press agency su venerdì, 29 Maggio 2020

Economic and Monetary Affairs Committee MEPs voiced concerns about the internal market during a debate with Commission Executive Vice-President Vestager on Monday.The majority of MEPs perceive the timely state aid schemes as a lifeline for companies during the COVID-19 crisis. However, they stress that all national state aid instruments such as grants or zero interest rate loans must be proportional and allocated in a transparent way.They also pointed to huge differences between the member states’ fiscal firepower, which is likely to have long lasting consequences on the internal market’s cohesion and asked about the strings attached to state aid such as contributions to the green economy.Commissioner Margrethe Vestager focused on the recovery package to be presented on Wednesday and the new solvency instrument, which will help recapitalise healthy companies put at risk by the pandemic. She agreed that the single market is crucial for recovery and assured MEPs that state aid is temporary, limited and designed to protect from bankruptcies and lay-offs. Ms Vestager stressed that the new recovery architecture will focus on minimising internal market distortions.Addressing recurring concerns voiced by many MEPs that the majority of state aid (47%) was obtained by German companies, Mrs Vestager highlighted the interdependence of the EU economy and interlinked value chains. German spending will therefore benefit companies across the EU, she stressed.MEPs also asked about the weaknesses laid bare by the crisis such as the EU’s dependence on other countries or digital giants to get strategic products such as medicine, medical equipment or tracing apps.The executive Vice-President reiterated the importance of striking a balance between strategic independence, trade and an open economy, which constitutes one of the EU’s main strengths. She called for a nuanced approach between self-reliance and an open global economy, because many jobs and businesses depend on that balance.Some MEPs insisted that green transformation and accountability to taxpayers should be a precondition for companies to receive aid. The Vice-President assured them that such companies have every incentive to stand on their own feet because bonuses, dividends and share buy-backs are banned. She also stressed that the EU will build its recovery around the agreed climate and digital goals. Finally, she recalled her constant efforts to achieve more tax justice by introducing digital taxation and carbon border taxes as a compensation for green EU companies.

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , | Leave a Comment »

Economic and Monetary Committee MEPs concerned about Karlsruhe ruling

Posted by fidest press agency su martedì, 12 Maggio 2020

During their meeting on Thursday with ECB Vice-President Luis de Guindos, MEPs focused on the German Constitutional Court ruling and the ECB’s response to the economic crisis.The German Constitutional Court Judgement, which came out on Tuesday, calling into question the European Central Bank bond-buying and demanding that the ECB produce the proportionality assessment within three months, was the focal point of the discussion. Many MEPs voiced their disappointment with the ruling and pointed out that it created instability by attacking both the decision of the European Court of Justice (ECJ), which approved the programme, as well as the EU legal order in general. While some MEPs in the committee demanded that Mr de Guindos declares that the ECB will give a clear signal to the financial markets and not change direction, others called for a proportionality assessment of the bond-buying programmes and pointed to the negative side effects, such as negative interest rates and low productivity.Vice-President de Guindos reiterated that the ECB is subject to the EU legal framework and the ECJ, and is accountable for its actions and transparent in its decision-making process. He reminded MEPs of the ECB’s two main principles: price stability and the bank’s independence. Finally, he explained that the ECB looks at interactions between fiscal instruments when taking monetary decisions. Side effects are taken into consideration and pros and cons of each policy decision are constantly assessed, he added.

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , , | Leave a Comment »

Anti-money laundering directive: vote on the Parliament/Council agreement

Posted by fidest press agency su sabato, 24 gennaio 2015

parlamento europeoBruxelles Tuesday 27 January 2015 at 15.30 Press conference room: Paul-Henri Spaak (PHS) 0A50 press conference with Krišjānis Kariņš (EPP, LV), from the Economic and Monetary Affairs Committee, and Judith Sargentini (Greens/EFA, NL), from the Civil Liberties, Justice and Home Affairs Committee Parliament and Council negotiators reached a deal on the 4th anti-money laundering directive on 16 December, which is to be voted by the Economic and Monetary Affairs Committee and the Civil Liberties, Justice and Home Affairs Committee on 27 January, at 15.00. Under the deal, the ultimate owners of companies will have to be listed in central registers in EU countries, accessible not only to the authorities but also to people with a “legitimate interest”, such as investigative journalists and other citizens. The rules will also require banks, auditors, lawyers, real estate agents and casinos, among others, to be more vigilant about suspicious transactions made by their clients. The new rules will contribute to fight tax crimes and terrorist financing.

Posted in Estero/world news, Politica/Politics | Contrassegnato da tag: , , , | Leave a Comment »

Monetary and Fiscal Policy

Posted by fidest press agency su giovedì, 17 giugno 2010

Pavia, venerdì-sabato 18-19 June 2010 presso le aule storiche del palazzo centrale dell’Università Il Dipartimento di Economia e Metodi Quantitativi dell’Università di Pavia e il Kiel Institute for the World Economy, come parte del Ensuring Economic and Employment Stability (EES) network, organizzano un workshop dal titolo Monetary and fiscal policy for macroeconomic stability. Lo scopo del workshop è quello di creare un forum per scambi diretti tra membri di istituzioni internazionali e ricercatori che lavorano nell’ambito della politica fiscale e monetaria per la stabilizzazione del ciclo economico. La recente crisi finanziaria ha stimolato nuove ricerche su come modellare i mercati finanziari e stabilizzare l’economia in crisi, attraverso la progettazione di politiche efficaci. Pertanto, il workshop si concentrerà su entrambi i campi di ricerca teorici ed empirici che si occupano di analisi della politica fiscale e monetaria in modelli del ciclo economico. Tra i relatori saranno presenti illustri studiosi internazionali tra cui i Prof. Lawrence Christiano (Northwestern University), Prof. Martin Eichenbaum (Northwestern University) and Prof. Stephanie Schmitt-Grohé (Columbia University).

Posted in Cronaca/News, Università/University | Contrassegnato da tag: , , , | Leave a Comment »