This week's view from Europe, courtesy of Edith Rigler :
UK is the country most often voting against EU Council initiatives – VoteWatch, 9th July 2012
A VoteWatch analysis of decisions taken by the EU Council since 2009 shows that among the 27 EU governments, the UK voted against the majority most often, whereas France and Lithuania always voted with the majority. The UK and Germany are the countries which voted against each other most often. In practise this does not matter though as a qualified majority of Member States suffices to reach a decision.
Feedback on results of Green paper on cards, internet and mobile payments published – European Commission, July 2012
The European Commission has now published the feedback it received in response to its consultation (Green Paper “Towards an integrated European market for card, internet and mobile payments” of January 2012).
EU Commission proposes legislation to improve consumer protection in financial services – European Commission, 3 July 2012
The Commission proposes a legislative package that raises standards and removes loopholes for the benefit of consumers. Specifically, the package proposes new, consumer-friendly standards for information about investments, raises standards for advice, and tightens certain rules on investment funds to ensure their safety.
Profit potential of European retail banks on the upswing again – Bankmagazin, July 2012
Consulting firm A.T. Kearney has published the results of "Retail Banking Radar 2012", a report analysing developments in 42 large European retail banks between 2007 and 2012. The study shows that financial institutions are returning to normal levels of revenue, cost and profit in most countries, except in the UK, Italy, Portugal and Spain.
Responses to to consultation on shadow banking now available – European Commission, July 2012
In March 2012, a green paper had invited stakeholders to comment on shadow banking issues: definition, risks and benefits, the need for stricter monitoring and regulation, outstanding issues and next steps. The individual countries´ responses as well as comments by individual respondents can be viewed on the Commission website.
Will the new duo bring dynamism to Deutsche Bank? – Manager Magazine, July 2012
In this interview, co-CEOs of Deutsche Bank Anju Jain and Jürgen Fitschen respond to questions re. joint leadership and financial results of the bank, recent changes in senior management, potential re-structuring, and plans to win back customer trust.