Connect to share and comment

France's Barnier throws name in race for EU Commission presidency

EU internal market commissioner Michel Barnier is set to run for the presidency of the European Commission, he revealed in an interview published Tuesday. Current president Jose Manuel Barroso steps down on October 31, and parliamentary parties are already lining up their candidates to pre-empt any deal cobbled together by member states. The centre-right European People's Party, the largest in Parliament, meets in Dublin in March, with Barnier and former Luxembourg premier Jean-Claude Juncker the top two names.

EU's Barnier warns U.S. of tit-for-tat action over banks

By Huw Jones LONDON (Reuters) - The European Union's financial services chief warned of tit-for-tat action if the United States pushes ahead with plans to impose extra capital requirements on foreign banks. In December, Federal Reserve Board Governor Daniel Tarullo said foreign banks should be required to hold as much capital as their U.S. counterparts, regardless of how their overseas parent companies are funded.

EU's Barnier calls for US answers on spying

The European Union's financial services chief on Tuesday said the EU was waiting for US government answers about its spying on allies, and suggested certain actions should stop. Michel Barnier, EU commissioner for internal market and services, said the revelations of US snooping had shaken European confidence at a time when both sides are pursuing an ambitious free-trade agreement. "This business of wiretapping and espionage casts a question mark over the mutual confidence of allies," Barnier said at a news conference in Washington.

EU's Barnier calls for US answers on spying

The European Union's financial services chief on Wednesday said the EU was waiting for US government answers about its spying on allies, and suggested certain actions should stop. Michel Barnier, EU commissioner for internal market and services, said the revelations of US snooping had shaken European confidence at a time when both sides are pursuing an ambitious free-trade agreement. "This business of wiretapping and espionage casts a question mark over the mutual confidence of allies," Barnier said at a news conference in Washington.

Brussels unveils next building block in banking union

The European Commission unveiled Wednesday what it called the "second and final cornerstone" of its ambitious banking union, with proposals for dealing with failing banks. The Single Resolution Mechanism (SRM) -- viewed sceptically in Germany -- will give the Commission the power to shut down any of the eurozone's 6,000-plus banks, even if the national authorities of the country affected disagree. The SRM is the second pillar in Europe's banking union alongside the single banking supervisor being set up under the aegis of the European Central Bank.

UPDATE 3-EU may force banks to help set Euribor to keep it clean

* List being drawn up of banks that may have to contribute * EBF says independent body should run Euribor * Germany's BaFin wants limits on mandatory participation By Huw Jones LONDON, Feb 8 (Reuters) - Banks may be forced to stay on the panels that set benchmark interest rates such as Euribor to ensure their validity, under a draft EU law to be proposed later this year in response to a rate-rigging scandal.
Syndicate content