The operation was a complete success; the patient died. Who thought we’d see a need for that joke again in relation to the EU, so soon after Cyprus? This time it’s the carbon emissions trading scheme, or EU ETS, and the consensus is it’s been dealt a near-mortal blow by a vote in the European parliament. Read more
Amazing what sometimes comes out of the European Parliament.
That’s an amendment from Jean-Paul Gauzès, Member of European Parliament, to the otherwise fairly sober draft legislation on how EU bodies should monitor governments’ finances, including bailout programmes. Dubbed the “two pack”, the draft legislation (including the Gauzès amendment) was approved by MEPs on Wednesday. This won’t come into force until the European Council has reviewed the legislation, which is going to mean months of negotiation, rejection of parts of the measures, and amendments, probably. Read more
Mario Draghi’s speech to the European parliament on Thursday wasn’t just notable for what he had to say about the scarcity of eligible collateral and the impaired transmission mechanism for monetary policy.
This also stood out. Read more
Presented without comment.
Dear all, Read more