The EU is pushing ahead too fast with plans to reform its financial architecture, warns a report by the UK's treasury select committee published on Monday (16 November). The Swedish EU presidency hopes finance ministers meeting on 2 December will back amended European Commission proposals that were published in September, with the European Parliament's approval also needed. The proposals - part of the EU's response to the financial crisis - envisage a new European Systemic Risk Board to monitor for macroeconomic dangers such as the build up of bubbles, and three new supervisory authorities for banking, insurance and securities.
The Swedish EU presidency hopes finance ministers meeting on 2 December will back amended European Commission proposals that were published in September, with the European Parliament's approval also needed.
The proposals - part of the EU's response to the financial crisis - envisage a new European Systemic Risk Board to monitor for macroeconomic dangers such as the build up of bubbles, and three new supervisory authorities for banking, insurance and securities.
Alistair Darling will be urged today by MPs to put the brakes on "overambitious" plans to toughen pan-European regulation of the financial sector, amid fears that the project is being rushed through.The chancellor is under pressure to do a deal with European finance ministers at their next meeting on December 2 to create the new financial architecture, intended to beef up cross-border regulation.But the Commons Treasury committee says it has identified "serious problems" with the plans to create a European Systemic Risk Board, which would focus on preventing bubbles and other macroeconomic dangers, as well as three pan-European agencies to regulate banks, insurers and securities firms. The committee's report urges Mr Darling and other EU ministers to hold back before agreeing the draft legislation.
The chancellor is under pressure to do a deal with European finance ministers at their next meeting on December 2 to create the new financial architecture, intended to beef up cross-border regulation.
But the Commons Treasury committee says it has identified "serious problems" with the plans to create a European Systemic Risk Board, which would focus on preventing bubbles and other macroeconomic dangers, as well as three pan-European agencies to regulate banks, insurers and securities firms. The committee's report urges Mr Darling and other EU ministers to hold back before agreeing the draft legislation.
It's heartwarming that the one area where recycling is supported unconditionally is the predictable economic soundbite.
The game idea of bullshit bingo is simple: Now, what we can do is to issue some new, Europe specific, game cards. It would also be a good tool to promote ET at conferences. I'd volunteer to hand them out to the participants of conferences, seminars, round table and panel discussions in Brussels.
Now, what we can do is to issue some new, Europe specific, game cards. It would also be a good tool to promote ET at conferences. I'd volunteer to hand them out to the participants of conferences, seminars, round table and panel discussions in Brussels.
This would be bullshit bingo for serious people.
Joe Wilson says outburst to Obama speech 'spontaneous' (CNN)
Rep. Joe Wilson shocked many observers Wednesday night when he shouted, "You lie!" after the president denied that health care legislation would provide free coverage for illegal immigrants. Some people using Twitter suggested that Wilson's retort was planned and pointed to a comment the lawmaker posted on Labor Day: "Happy Labor Day! Wonderful parade at Chapin, many people called out to oppose Obamacare which I assured them would be relayed tomorrow to DC," the tweet from Wilson's account said.
Some people using Twitter suggested that Wilson's retort was planned and pointed to a comment the lawmaker posted on Labor Day:
"Happy Labor Day! Wonderful parade at Chapin, many people called out to oppose Obamacare which I assured them would be relayed tomorrow to DC," the tweet from Wilson's account said.
