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Greg Ford 30 October 2015
Microcredits are not just for developing countries; their growing role in the EU’s economy triggered the first “European Microfinance Day” earlier this month, along with calls to improve the regulatory and political environment. In this blog, Greg Ford looks at the vibrant but often overlooked EU microcredit sector to see what lessons it might hold for other types of small business lending.
The article was originally published at Critical Finance, a website composed by a group of economists at UWE (Bristol), working towards a critical re-articulation of the role of finance and money in economic theory and practice. Daniela Gabor and Jakob Vestergaard discuss four issues that are essential to address for a sustainable Capital Markets Union.
A group of European civil society organisations are concerned over the launch of the European Commission’s proposed Action Plan on the Capital Markets Union (CMU) initiative. They call on policy makers to adress these concerns and to pay due consideration to their many proposals.
23 September 2015
This summer the European Commission launched a new consultation on the "possible impact of the CRR and CRD IV on bank financing of the economy". The outcome of the consultation could put pressure on policy makers to decrease standards rather than deliver a (much-needed) improvement, which would be a poor outcome from a public interest perspective.
When Frans Timmermans presented the Better Regulation Package in May, he used the analogy of refurbishing a kitchen. He said it is not important for those who eat a meal how the kitchen is furnished but rather how the food tastes in the end. Sticking to this metaphor, our member organisation SOLIDAR wants not only that the food tastes good but also that each and every one can afford a meal and has a place at the table.
A new article from our guest blogger Fabien Hassan - To fight climate change and reduce CO2 emissions, environmental advocates have found an enemy: companies exploring and extracting fossil fuels. The divestment movement was born to convince investors to stop financing those companies. Boosted by impressive successes despite opposition, the movement has one major benefit: it forces investors to consider their impact on the real economy.
23 July 2015
Welcome to a new series of blogs on “Better Regulation”. In this and the following articles, we will explain what the new Commission initiative is about and what concerns it raises for citizens.
Guest bloggers Daniela Gabor and Jakob Vestergaard explain why they think Capital Markets Union, in its current form, is unlikely to advance its stated objectives and risks undermining other efforts to regulate (shadow) banking.
In May, European Commission Vice-President Timmermans presented his Better Regulation proposals, which aims to reduce the regulatory burden and improve the way new rules are made. One potentially worrying proposal is for more impact assessments at various stages of legislation.
Greg Ford 26 June 2015
Financial industry lobbyists are using concerns about market liquidity to try and scare policymakers away from necessary reforms to bank structure and capital. This renewed focus on financial market liquidity risks confusing the symptom with the cause. If policymakers react in the wrong way to “liquidity lobbying”, they risk leaving us with more short term investing and a financial system that is more fragile and pro-cyclical than it needs to be.
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