The report sets out Finance Watch’s achievements in 2015 and challenges for 2016, including work on MiFID II, Capital Markets Union, Better Regulation, bank bail-in, climate finance, fundraising, expanding the civil society network working on European financial reform, and the changing political climate for financial reform, among other things.
Kurt Eliasson, chair of the Board of Directors of Finance Watch, said:
“Our organisation had some notable successes in 2015 and continues to provide first rate support to civil society organisations active in financial regulation. As our supporters and funders know, Finance Watch provides a link between civil society and the reform of the financial system, which is the basis for much of what needs to be improved in society.”
After his first full year as Secretary General, Christophe Nijdam warned of a dangerous combination of trends in financial regulation: fading political will for reform, and rising pressure for deregulation from the financial industry. He said:
“The last financial crisis was caused by a lack of effective regulation. Now that the banking sector is more concentrated and the economy more indebted there is no room for error; another financial crisis would be an economic and social disaster. Finance Watch will continue to work for a well-regulated financial system that puts the public interest first.”
Finance Watch is grateful to all those who supported our work in 2015. Anyone can be a supporter of Finance Watch, by signing up for our free newsletter at http://www.finance-watch.org/friends-newsletter or making a donation at http://www.finance-watch.org/make-a-donation.