Michael Berendt's blog

Archives for Financial Services

It seems that a European Banking Union has become the magic solution to the eurozone debt crisis. This week’s meeting of eurozone finance ministers in Brussels confirmed that European funds will provide direct support to Spanish banks, to the tune of €100bn in loans from the European Financial Stability Facility and subsequently the European Stability… » read more

Posted by Michael Berendt

European Council president Herman van Rompuy has arranged a summit dinner for EU leaders on May 23. For François Hollande the Brussels feast will be a first opportunity to brief all his colleagues on France’s new approach to the eurozone crisis and how he sees a return to growth in Europe. His message will be… » read more

Posted by Michael Berendt

A compromise may be in sight to defuse the conflict over a proposed EU turnover tax for all financial transactions. It seems that finance ministers are looking at stamp duty on share deals as an alternative way of taxing the financial sector, perhaps marking a calmer phase in the evolution of European financial services legislation.… » read more

Posted by Michael Berendt

A game-changer: that’s how Christine Lagarde, new boss of the IMF, described last week’s eurozone crisis summit, which agreed revised bail-out terms for Greece and far-reaching new capabilities for EU financial institutions, virtually creating a European Monetary Fund. There is no doubt that the decisions taken in Brussels on July 23 2011 opened a new… » read more

Posted by Michael Berendt