Tracking developments in the European Financial Markets
The euro area has taken several giant steps towards greater economic and financial integration in recent months: The Fourth European Semester is well underway; the `Two Pack’ has been operated for the first time; the Single Supervisory Mechanism is enacted and the Single Resolution Mechanism finally agreed – to name just the leading examples.
The peddlers of fears about an imminent collapse of the euro have been silenced – but no-one should be complacent when average public debt ratios are close to 100% of GDP. So the publication of the Report on DRFs and Eurobills by the European Commission’s Expert Group is timely. In response, President Barroso said “we need to have a democratic debate on these ideas with citizens, governments and the European Parliament. The upcoming European elections are a prime opportunity to discuss what kind of Union we really want.” After these elections, the new Parliament and Commission can return to these issues – with the proposal for a Temporary Eurobill Fund (TEF) firmly on the table. (more details - see below)
My consultancy services are designed to maximise your firm’s ability to tap into my overview of progress in fitting together the jigsaw of these developments. That overview is essential as they span such diverse subjects that many firms are not structured to deal with the implications for their business.
Closer political union but still possible disintegration: you need to have your finger on this pulse.
If you do business in Britain, you must also work through the implications of the Prime Minister's effective commitment to a referendum that could see Britain exit the EU - 'Brexit'.
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