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The E.U. is investigating HSBC, Royal Bank of Scotland and Barclays among 16 of the world's leading investment banks over suspicions they colluded and abused their positions in providing the financial derivatives many blame for exacerbating the eurozone sovereign debt crisis. The inquiry into credit default swaps (CDS), the controversial financial contracts designed to allow investors to insure against debt default, follows accusations that banks, many of them rescued by their host governments from collapse, played a part in forcing Greece and Ireland to seek EU bailout funds. If found guilty of abusing their position, the banks could be fined up to 10% of revenues by the European commission, which has handed out sanctions as big as €1bn (£880m). Joaquín Almunia, the commissioner in charge of anti-trust cases, said: "Recent developments have shown that the trading of this asset class suffers a number of inefficiencies that cannot be solved through regulation alone. We are therefore opening two new cases to improve market transparency and fairness in the CDS market ... Lack of transparency in markets can lead to abusive behaviour and facilitate violations of competition rules and the commission should react accordingly." Concerns in several EU countries at Europe's slow pace of finance reform as well as the largely unregulated £360tn derivatives market, which ballooned before the financial crisis, are also understood to lie behind investigation. Members of the EU parliament have lobbied for deeper reforms of the CDS market and other areas of the financial system.Rompres,Amos News, Agerpres,Mediafax,Romanian,Vancouver Sun,Global News
The E.U. is investigating HSBC, Royal Bank of Scotland and Barclays among 16 of the world's leading investment banks over suspicions they colluded and abused their positions in providing the financial derivatives many blame for exacerbating the eurozone sovereign debt crisis. The inquiry into credit default swaps (CDS), the controversial financial contracts designed to allow investors to insure against debt default, follows accusations that banks, many of them rescued by their host governments from collapse, played a part in forcing Greece and Ireland to seek EU bailout funds. If found guilty of abusing their position, the banks could be fined up to 10% of revenues by the European commission, which has handed out sanctions as big as €1bn (£880m). Joaquín Almunia, the commissioner in charge of anti-trust cases, said: "Recent developments have shown that the trading of this asset class suffers a number of inefficiencies that cannot be solved through regulation alone. We are therefore opening two new cases to improve market transparency and fairness in the CDS market ... Lack of transparency in markets can lead to abusive behaviour and facilitate violations of competition rules and the commission should react accordingly." Concerns in several EU countries at Europe's slow pace of finance reform as well as the largely unregulated £360tn derivatives market, which ballooned before the financial crisis, are also understood to lie behind investigation. Members of the EU parliament have lobbied for deeper reforms of the CDS market and other areas of the financial system.Rompres,Amos News, Agerpres,Mediafax,Romanian,Vancouver Sun,Global News
2 comments:
Az augusztusban mért 7,6 százalékos romániai éves infláció a legmagasabb az EU-tagállamai között, míg az árnövekedés üteme Európában átlagosan 2 százalékos volt, derül ki az Eurostat által szerdán ismertetett adatokból.
Az eurozónában a júliusi 1,7 százalékról augusztusban 1,6 százalékra csökkent az infáció, az EU-ban 2,1 százalékról 2 százalékra mérséklődött a drágulás üteme.
Románia után Görögországban volt augusztusban a legmagasabb, 5,6 százalékos infláció, a sereghajtók között a harmadik Magyarország 3,6 százalékkal. A legnagyobb mértékben, 1,2 százalékkal Írországban csökkent a drágulás üteme, majd következik Lettország (-0,4 százalék). A legnagyobb európai gazdaságnak számító Németországban 0,2 százalékkal csökkent az augusztusi infláció júliushoz képest.
Romániában az áfa (TVA) 19 százalékról 24 százalékra emelésével júliusban jelentősen nőtt az infláció
Mediafax,Rador,Basa Press,Media Trust,LiveNews.ro,NewsIn
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