Strong Emission Targets for 2050

Parliament’s Environment Committee has adopted strong emission targets for 2030 and enforceable right to climate protection The news was greeted on Friday by German Greens MEP Sven Giegold. He told this site: “Again and again, important things happen in Brussels that hardly anyone notices. While climate change is coming to a dramatic head, Europe is…

McGuinness Replaces Hogan

Commission President von der Leyen has proposed Mairead McGuinness as candidate to succeed the resigned Irish Commissioner Hogan to the Council and the European Parliament. McGuinness’ portfolio is financial services, financial stability and capital markets union. Commission Vice-President Dombrovskis takes over the trade portfolio from Hogan. The Irish government had proposed to the President of…

Call for Tax Transparency

German Greens MEP Sven Giegold has written an pen letter to the EU residency called for an end to the “German blockade of tax transparency.” The letter, seen by this website, reads, “We can no longer afford tax dumping in the interest of large companies in Europe. Public funds are and will remain heavily strained…

German Wirecard scandal

The European Parliament has called for tough examination of the Wirecard scandal and the failure of German supervisor BaFin. The Legal Affairs Committee and the Economic and Monetary Affairs Committee of the European Parliament have sent a joint letter to the EU Commission on Wirecard and European auditing rules.  The letter was prepared by the…

Fight Against Money Laundering

Negotiations on a draft resolution on the fight against money laundering were successfully concluded last week. The draft text, supported by Christian Democrats, Social Democrats, Liberals, Greens and the Left, is based on a Green proposal. German Greens MEP Sven Giegold told this website: “This draft resolution is a success for the European fight against…

European Ombudswoman condemns appointment of Farkas to finance lobby

Emily O’Reilly, Europe’s Ombudswoman The European Ombudswoman has published her recommendation on Adam Farkas’ move from the European Banking Authority (EBA) to a financial lobby. Emily O’Reilly, the Ombudswoman, who is responsible for ethical issues in the EU institutions, comes to a crystal clear conclusion: this move to the investment banking lobby AFME should not…

ECB Breaches Competences

In its ruling yesterday, the German Constitutional Court declared the ECB decisions on the bond purchase programme (PSPP) to be in breach of competences. The judges declared the previous positive preliminary decision of the European Court of Justice to be incomprehensible and thus arbitrary, because the Court had excluded the economic effects of the programme…

Commission Proposals for Temporary Relief for Banks

Commission Executive Vice-President Valdis Dombrovskis on Tuesday presented proposals for a temporary reduction of capital requirements in the Corona crisis.  The Commission wants to ensure that banks continue to provide credit to the real economy despite the crisis.  The package of measures includes a proposal to compensate for the effect of the new accounting rules…

Maltese finance minister under investigation for money laundering

On Friday, the Maltese justice confirmed criminal investigations because of suspected money laundering investigations against inter alia the Maltese finance minister Edward Scicluna.  Last night Keith Schembri, the ex-chief of cabinet of Malta’s Premier Joseph Muscat, has been released from arrest. The appeal of Finance Minister Edward Scicluna, ‘self-suspended’ minister Chris Cardona and former Tourism…

Galizia Murder: Suspect Arrested

Businessman Yorgen Fenech has been arrested in Malta in connection with the murder of journalist Daphne Caruana Galizia two years ago.  According to media reports, he was arrested when he attempted to leave the island with his yacht.  Fenech is the owner of the company “17 Black”, which appears in the “Panama Papers” with connections to Tourism…