Finance Ministers Strike Market Supercop Deal Despite Brussels’ Objections
15 Articles
15 Articles
The compromise was reached by the finance ministers at the price of concessions to satisfy Germany, Luxembourg or national regulators, but it is a decisive step towards unifying capital markets.
The finance ministers agree on a leaky EU market supervision. However, the compromise sparks a conflict about distortion of competition. Belgium calls for new talks at the EU summit.
ECOFIN agrees to extend the powers of ESMA and leaves out Deutsche Börse and BME. Brussels regrets the loss of ambition.The entry ECOFIN agrees to strengthen ESMA as a European market supervisor despite the rejection of Brussels appears first in Moncloa.
The countries of the European Union reached an agreement on Friday on unified supervision of large non-bank financial institutions. Germany succeeded in obtaining an exemption for the Frankfurt Stock Exchange, which remains under national supervision. Belgium did not approve the agreement and abstained – the only one to do so.
ESMA’s mega-supervision in markets is born decaf: Germany shields Deutsche Börse and leaves BME under national surveillance. The Mega-supervision ESMA entry into markets: Brussels closes a pact that leaves BME out aparece primero en Merca2.
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