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The EU Agenda for Financial Reform. Seoul 7./8. July 2010. Peter Wahl World Economy, Ecology & Development Association Berlin. WEED PeWa. Legislation (directives) done or underway. improvement of deposit insurance Improvement of „Savings directive“ European supervision
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The EU Agenda forFinancial Reform Seoul 7./8. July 2010 Peter Wahl World Economy, Ecology & Development Association Berlin WEED PeWa
Legislation (directives) done or underway • improvement of deposit insurance • Improvement of „Savings directive“ • European supervision • directive on Hedge Funds WEED PeWa
Legislation announced • derivatives • Credit rating agencies • Renumeration • Bank levy • speculation on commodities WEED PeWa
Other projects Emergency plan for Greece Emergency plan for Euro Strict control of national fiscal policies De facto change in ECB mandate WEED PeWa
Problems internal contradictions imbalances and conflicts of interest • Euro-Zone vs. non-Euro zone • UK and the City vs. the rest • Foreign debt model vs. Domestic based • export model vs. Domestic demand WEED PeWa