No Deal. No Problem?
In recent weeks, for the first time in quite a while, pub regulars and politicians have been discussing the same topic: the protracted heat wave and its consequences and the question of how far it was and is due to climate change. Nevertheless, it was once again Brexit that made the front pages - and rightly so as clearly the United Kingdom has also now realised the seriousness of the situation. After the EU Commission issued a Communication in July calling for businesses to prepare for a no-deal Brexit (as reported in this publication one month ago), the British government has now also issued emergency plans in the event of a disorderly Brexit. However, the fact that even France is gearing up with so-called emergency measures at least indicates that, if it comes to it, everyone will be reasonably prepared and chaos may be avoided. |
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| Prudential Supervision of Investment Firms |
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The supervision of investment firms in the EU should be more adapted to their respective business models and risks. With this aim, the EU Commission has developed a proposal for a Directive which, by dividing investment firms into three classes, counteracts the consolidation of the sector brought about by regulation.
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| cepDefault-Index Greece 2018 |
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Greece is still not creditworthy. The country has received €289 billion in financial assistance for eight years, but there is still a long way to go to regain its creditworthiness. This is the result of the updated cepDefault-Index on the occasion of the expiry of the third EU adjustment programme for Athens on 20 August.
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| Establishing a European Labour Authority |
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The EU Commission wants to improve the application of EU law in the area of labour mobility. For this purpose, it proposes setting up a European Labour Authority. The Authority will facilitate access to information and services on labour mobility for citizens and companies and promote cooperation between national authorities.
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| Prudential Requirements of Investment Firms |
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| The supervision of investment firms in the EU will become more adapted to their business models and risks. For this purpose, the EU Commission has proposed inter alia a Regulation on prudential requirements for investment firms.
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“We are divided on this continent. What we need is to unite and that is what I want to do.”
EPP parliamentary group leader Manfred Weber wants to become the new head of the EU Commission and promotes the cohesion of Europeans |
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“After years of cuts and pessimism, a phase of optimism and growth must now begin.”
Martin Schulz, former President of the EU Parliament |
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“I hope the Greek government will accept its responsibility and bring in reforms to increase competitiveness because without reforms there will be neither optimism nor growth.”
Dr. Matthias Kullas, Head of Division at cep |
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“Gigabit infrastructure should be achieved in the private sector without nationalising the investment risks by way of subsidies.”
Dr. Bert Van Roosebeke, Head of Division at cep |
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Facts
Greece has received 289 billion euro in three bailouts since 2010. |
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