European Tax Observatory

There will be a European Tax Observatory headed by the renowned progressive tax economist Gabriel Zucman. This will implement an idea of the European Greens, which they launched in October 2019 together with Social Democrats and Liberals in the European Parliament.  German Greens MEP Sven Giegold told this website,”That is great news. Because just like…

ESMA Report on Wirecard Scandal

The European Securities Markets Authority (ESMA) has presented its long-awaited report on the role of the German financial supervisor BaFin and the German Financial Reporting Enforcement Panel (FREP) in the Wirecard accounting scandal.  In Germany, BaFin and FREP are jointly responsible for the enforcement of financial reporting. ESMA publishes guidelines aimed at harmonising enforcement throughout…

MiFID Quick Fix

The European parliament’s Committee for Economic and Monetary Affairs (ECON) of the European Parliament has adopted its position on the so-called “MiFID quick fix” which amends the Markets in Financial Instruments Directive (MiFID).  The MiFID sets the key rules for stock exchanges, financial trading platforms, consumer protection in financial markets and rules for the speculation…

EP Prize for Investigative Journalism

The European Parliament is to set to announce the rules for a new “Daphne Caruana Galizia Prize for journalism” Directly after the murder of Galizia three years ago MEPs Sven Giegold and Eva Joly demanded the creation of a “European prize for investigative journalism” in the name of the late Daphne Caruana Galizia and modelled on the…

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…