Föhrenbergkreis Finanzwirtschaft

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Archive for 25. Juni 2017

Aufsichtsjobs: Finanzminister schreibt FMA-Vorstand aus

Posted by hkarner - 25. Juni 2017

Renate Graber, 24. Juni 2017, 15:27 derstandard.at

Die Verträge der amtierenden Chefs Ettl und Kumpfmüller laufen im nächsten Jahr aus – dem Vernehmen nach wollen sie sich erneut bewerben

Wien – Nächstes Jahr laufen die Verträge der beiden Chefs der Finanzmarktaufsichtsbehörde FMA, Helmut Ettl und Klaus Kumpfmüller, aus. Die Nachbesetzung der Posten könnte sich theoretisch noch in der derzeitigen Regierungskonstellation ausgehen, denn: Am Samstag wurden die Posten vom Finanzministerium im Amtsblatt der Wiener Zeitung ausgeschrieben, die Bewerbungsfrist läuft bis 24. Juli. Wie zu hören ist, wollen sich der 51-jährige Exnotenbanker Ettl (er ist der SPÖ zuzurechnen) und der der ÖVP zuzurechnende 47-jährige Exbanker Kumpfmüller (Raiffeisenlandesbank und Hypo OÖ, später Bundesfinanzierungsagentur sowie einst im Kabinett der damaligen Wirtschaftsstaatssekretärin Maria Fekter) bewerben und ihre Verträge verlängern. Die Funktionsperiode beträgt fünf Jahre.

Neue Rahmenbedingungen

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The Brexit Vote, One Year Later

Posted by hkarner - 25. Juni 2017

An excellent analysis! (hfk)

Date: 23-06-2017
Source: Foreign Affairs By Stephen G. Gross

The Historical Roots of the Decision to Leave the EU

On June 23, 2016, citizens in the United Kingdom voted 52 to 48 percent to leave
the European Union, sending shockwaves around the world and raising concerns about a new type of populism on both sides of the Atlantic. The common explanation of Brexit presents it as a revolt by the losers of globalization. As the international movement of goods, capital, ideas, and people has intensified, this argument runs, the latter shaped the referendum results most profoundly. The intra-European flow of migrants from east to west, combined with the potential for an influx of refugees in 2015, convinced many British citizens that they stood on the losing end of a globalized, borderless Europe.

Although this story captures important dynamics, it misses crucial historical developments that influenced British leaders’ decision to hold the referendum, as well as its outcome. Four trends converged to lead the United Kingdom to split with the EU: a divergence between the United Kingdom and the continent about the meaning of the European project and the nature of sovereignty; a gradual estrangement of British political parties from the public; the aftermath of the 2008 financial crisis; and Brussels’ lackluster management of the EU’s problems. These developments help explain why the message of Leave resonated and that of Remain proved counterproductive. They reveal, moreover, just how fragile and elite-driven the European project remains. Den Rest des Beitrags lesen »

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Posted by hkarner - 25. Juni 2017

Date: 24-06-2017
Source: The Wall Street Journal
Subject: Macron’s EU Agenda Meets Stiff Resistance

Opposition to French president’s push to screen foreign investments highlights divisions, reform challenges

BRUSSELS—French President Emmanuel Macron’s bid to revitalize the European Union is bumping into longstanding divisions over trade, with countries that depend on Chinese cash resisting his push to scrutinize foreign investments.

Following Mr. Macron electoral victories on a pro-European platform, he received a warm welcome at his first EU summit in Brussels. His ambitious agenda, however, quickly got bogged down as some EU governments attacked Mr. Macron’s proposal to screen the flow of global capital into Europe.

“Poland will protest against protectionist measures,” Prime Minister Beata Szydlo said Friday, as the two-day gathering of EU leaders ended.

The French president also drew ire for implying Eastern European countries were treating the bloc like a “supermarket” by tapping its benefits without upholding its democratic values. Den Rest des Beitrags lesen »

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U.K.’s Euro Clearing Business at Risk as ECB Requests More Powers

Posted by hkarner - 25. Juni 2017

With another stupid statement by Mr. Kern. Full Elder (= Vollholler) (hfk)

Date: 24-06-2017
Source: The Wall Street Journal

Brexit raises questions about whether big U.K.-based clearing houses should move elsewhere within the EU

A view of the City of London financial district. London-based clearinghouses clear around 90% of the euro-denominated interest rate swaps of euro area banks, and 40% of their euro-denominated credit default swaps, according to ECB estimates.

FRANKFURT—The European Central Bank lodged a formal request for greater powers to supervise euro-denominated clearing, stepping up a tug of war between European Union authorities and Britain over the future of the lucrative business line after Brexit.

Britain’s departure from the EU has rekindled a debate about whether big U.K.-based clearing houses should decamp within the bloc, given the importance of their activities for the stability of eurozone financial markets.

The ECB said on Friday it had lodged a request with EU authorities for changes to its statute that would allow it to exercise “a clear legal competence in the area of central clearing.” Den Rest des Beitrags lesen »

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