100 posts
Still counting on their luck
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EU bureaucrats are about to free another internal market. Will the natives greet them as liberators?
Settlement in the EU e-book investigation
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On 13 December 2012, the European Commission formally accepted the commitments offered by Apple and several publishers, putting an end to its investigation into e-book pricing. These companies’ behaviour on the market for e-books was indeed under r...
Market pillar of EU industrial policy: harmonisation and surveillance
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Innovation, skills, markets and access to capital are the four pillars of the updated Europe 2020 (EU2020) flagship initiative for industrial policy. Thus, the internal market (single market) and international markets play an important part in EU in...
Interflora v M&S: Court of Appeal surveys surveys
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In the cut-throat market for flowerdelivery, competitors resortto increasingly daring ploys ... "This is another case about Google AdWords and registered trade marks". That was the opening sentence of Mr Justice Arnold's judgment in Interflora,...
European Venture Capital Funds in tax havens
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We have the (first) Single Market Act (SMA I) COM(2011) 206 (in 22 EU languages, in English), the background blog entry European Council and Single Market Act I and the report from the EU Commission to the European Council 18-19 October 2012 about th...
Europeiska riskkapitalfonder i skatteparadis
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Som bakgrund har vi (den första) inremarknadsakten KOM(2011) 206, blogginlägget European Council and Single Market Act I och EU-kommissionens rapport till Europeiska rådet den 18-19 oktober 2012 om genomförandet av tillväxt- och sysselsättnings...
EU:n yhtenäispatentin käännösjärjestelyt
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Tarkastelemme sisämarkkinoiden (ensimmäisen) toimenpidepaktenin KOM(2011) 206 toteuttamista, johon blogimerkintä European Council and Single Market Act I tarjoaa yleissilmäyksen. Blogikirjoitukset EU:n yhtenäispatentti solmussa ja Yhtenäispat...
Stocks And Commodities Trade Lower On The Exhaustion Of The World Central Banks’ Monetary Authority And Inability To Stimulate Global Trade … Greeks Strike In Front Of Likely Parliament Approval Of Troika’s Third Austerity Vote … Hollande Lurches Right A
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Financial market report for Monday November 5, 2012 Introduction Finviz charts show Stocks, VT, and Commodities, DBC, trade lower on exhaustion of the world central banks’ monetary authority, and on inability to stimulate global trade and their ina...
Fitch Finds a Tough Crowd in Ankara
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Turkey’s credit rating just got a long sought-after bump up to investment-grade, but the ratings firms still won’t get any love from the government.
EU-strategi för snabbare standardisering
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Blogginlägget Ny förordning om europeisk standardisering konstaterade redan att EU-kommissionens förslag KOM(2011) 315 hade lett till antagande, men att den nya förordningen inte ännu hade publicerats i Europeiska unionens officiella tidning. Vi...
20 Years of the European Single Market
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When people ask me ‘What has the EU ever done for me?’ my answer usually relates to the Single Market, which has given individuals and businesses four basic freedoms of movement throughout the 27 member states, relating to goods, people,...
Romania’s Monetary Policy in Federal Europe
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Sometimes monetary policy and federalism can interact in interesting ways. To grasp a particular relation, such as that of Romania in the European Union, it is first necessary to keep in mind that monetary policy is not federalism and vice versa. An...
Stability bonds (Eurobonds)
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The euro area sovereign debt crisis has revived the debate on the common issuance of sovereign bonds in the eurozone. The introduction of such stability bonds (or Eurobonds) is seen by some policy makers and experts as a solution to the crisis. It wo...
Polish Banks Seen Tightening Credit
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The Polish central bank expects the country's commercial banks to tighten lending conditions further for consumers and businesses in the fourth quarter because of a deterioration in both the economic outlook and their portfolios.
Les aides d’État applicables aux SIEG: Le cas du logement social soutenu par les Fonds structurels
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Lestraités reconnaissent la place des services d’intérêt économique général (SIEG) parmi les valeurs communes de l’Union européenne. Cependant, afin que certains SIEG puissent accomplir leurs missions, un soutien financier public p...
Strategia eurooppalaisille standardeille palvelujen sisämarkkinoilla
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Aiemmin oli puhe hiljattain hyväksytystä asetuksesta, joka koskee eurooppalaista standardointia. Asetus perustuu komission ehdotukseen KOM(2011) 315, mutta sitä ei ole vielä julkaistu Euroopan unionin virallisessa lehdessä. KOM(2011) 311 Sa...
Clearinghouses Profit as Too Big To Fail
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According to Gretchen Morgenson of the New York Times, “failing to confront the too-big-to-fail question is a serious oversight.” Lest it be assumed that the financial reform law passed in 2010 after the financial crisis of 2008 makes it less pro...
Standards important ”everywhere”
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Standards for goods and services, including ICT, are hugely important for businesses and consumers, even if standards are like cleaners: You notice their absence. In the blog entry A strategic vision for European standards I already quoted a para...
A strategic vision for European standards
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The blog entry European Council and Single Market Act I told us that (only) one of the twelve ”levers” (key actions) for growth and confidence of the SMA I communication COM(2011) 206 had been approved: the European Standardisation System in Octo...
EU-patent med enhetlig verkan
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Inlägget Genomförandet av EU:s tillväxt och sysselsättningspakt presenterade bakgrunden. Kommissionens rapport till Europeiska rådet den 18-19 oktober 2012 om genomförandet erbjuder aningen mer detaljerad information om enskilda lagförslag och...
“Barmy EU plans for hair salons” as the Sun says? Or hair salons themselves asking for EU legislation?
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Number of View: 84Here we respond point by point to the Sun’s article from 28 October 2012, headlined: “Hairdressers are battling barmy EU plans to outlaw high-heels and jewellery at work” The “plans” were put forward not by the “barmy EU...
Yhtenäispatentti EU-maiden ”mestarinäyte”
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Miksi Eurooppa taantuu kun muu maailma kehittyy? Yhtenäisen patentin junnattua paikoillaan, Lissabonin sopimus avasi vihdoin eurooppalaisen yhdenmukaisen teollis- ja tekijänoikeuksien suojan tavalliselle lainsäädäntöjärjestykselle (määräene...
Europe's patent judges call for improvements to Draft Agreement on Unified Patent Court
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The IPJA's 1 November 2012 Resolution Following in the footsteps of the Max Planck Institute and AIPPI, the Intellectual Property Judges Association (IPJA) has today published its conclusions on the proposed Unitary Patent and Unified Patent Co...
Russian Bourse Considers Adding Eggs to Its Basket
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Market players in Russia may soon be able to turn to a St. Petersburg bourse to dabble in a different kind of trade: hen-egg futures.
Turkey’s Erdogan Hints at ‘Lira Zone’
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Turkish news outlets are fizzing with debate about the possibility of a lira currency zone, following an ambiguous comment from Turkey’s outspoken Prime Minister Recep Tayyip Erdogan.
No Time for SNB to Rest on Its Laurels
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The Swiss National Bank can't afford to relax, writes columnist Nicholas Hastings.
What Links the Euro and Chinese Rates?
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Analysts at Bank of America Merrill Lynch have unearthed a real left-field connection, writes columnist David Cottle. They say the monthly, rolling correlation between five-year Chinese swap rates and the EUR/USD pair has jumped to 83% between 2011 a...
Swiss and German Economic Indicators, Update November 1
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Euro Crisis Has Affected Germany, Switzerland Still Immune Most Recent Events The Swiss SVME PMI has risen from 43.9 to 46.1. This PMI that is dominated by machinery exporters. As opposed to the chemical industry, they were not innovative e...
EU:n yhtenäispatentti solmussa
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Kesäkuussa Eurooppa-neuvosto hyväksyi kasvu- ja työllisyyssopimuksen, jonka toimeenpanoon lokakuun huippukokous patisti: kirjoitus EU:n kasvu- ja työllisyyssopimuksen täytäntöönpano. Komission kertomus Eurooppa-neuvostolle 18.-19.10.2012 K...
Romania to Sell Bonds With New Euro Deal
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Romania is seeking to raise funds in the European bond market with its first new euro deal since June last year, in a transaction likely to cost the country only slightly more than what Spain is paying for debt of a similar maturity.
Barclays Bank speculation (Prowse and Rubinstein strike again)
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While the bank were fined £290m for manipulating LIBOR rates, they can sleep easy having trousered a whopping £500m through food commodity speculation. Good to see Revolution Will Be Televised stars Heydon Prowse and Jolyon Rubinstein having yet mo...
The good old days – when banking was simpler… for some
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Many argue that the banking system no longer has integrity and reminisce of past times when the banks were everyone’s old reliable; you pop into your local bank for some friendly advice and a cup of tea. Well, you could if you had sufficient funds...
AIPPI calls for CJEU status quo in unitary patent matters
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The ice sculpture at AIPPI's Gala Dinner glowing in Seoul last week The AmeriKat has just returned from a whirlwind trip in Asia which found her dancing Gagnam style in Seoul at this year's AIPPI (Association Internationale pour la...
Ny förordning om europeisk standardisering
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I blogginlägget European Council and Single Market Act I kunde vi konstatera att rådet och Europaparlamentet hade betat av en av de tolv nyckelåtgärderna i inremarknadsakten KOM(2011) 206 slutlig (på 22 EU-språk eller på svenska). Det handlade...
International Trade and Constitutional Law in the USA: Non Article III Courts Encroaching Upon Essential Attributes of Judicial Power Contrary to U.S. Supreme Court Precedents : ITC and Patents
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There is no question that the U.S. International Trade Commission or ITC has the power to ban imports of devices to the USA that it sees as threats to domestic trade because of patent infringements established by Article III courts. It is equally cle...
Chart of the week: Funding costs are coming down
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Authors: Carlos De Sousa, Guntram B. WolffAt the end of July when sovereign yields of the troubled euro area economies were reaching a peak, we highlighted in a chart of the week the Emergency on funding costs for sovereigns, financial and non-financ...
EU Banking Union squeezed by Franco-German interests
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After the European summit of 18-19 October a two-folded conclusion can be drawn: the European banking union has been put forward and nations' interests still diverge. After a night of discussion, as usual at these summit, European leaders agreed to e...
Asetus eurooppalaisesta standardoinnista
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Eurooppalaisilla standardeilla on suuri merkitys yrityksille ja kuluttajille. Standardit Sisämarkkinoiden ensimmäisen toimenpidepaketin KOM(2011) 206 (eri kielivaihtoehdot tai suomeksi) kahdentoista ”viputekijän” joukossa oli palvelujen al...
Germany Restricts High-Frequency Trading, Chicago Fed Recommends Same
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WSJ Article: Germany to Tap Brakes on High Frequency TradingNYT Article: Germany Act to Increase Limits on High Speed TradesLate last month, New York Times and WSJ reported on Germany's intention to restrict High Frequency Trading. High Frequen...
So what became of Iceland?
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As summer fades into autumn, between their daily siestas and with a lump in their throat after flicking through the newspaper and finding yet more company and risk premiums, the Spanish should take the time to consider what has become of Iceland, tha...
The mess that is the European software patent
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Whatever happened to all those unending and vitriolic arguments over patent protection for software in Europe? The following is a special treat for those readers who yearn for those far-off days when anonymous and occasionally even named commen...
European Council and Single Market Act I
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The blog post Implementing EU Compact for Growth and Jobs looked at how the European Council has approached the improvement of economic policy coordination, including the European Semester and the ”two-pack” regulations. Single Market reform...
‘Banker-bashing is like child abuse’ says PM’s favourite entrepreneur
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A banker singled out by David Cameron for praise in his party conference speech has claimed that criticism of bankers is comparable to child abuse. made the bizarre and shocking comparison between the treatment of bankers after the financial crash,...
Lawmakers Soften Investment Rules
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The European Parliament has shied away from tougher rules on selling financial products.
Russia’s Massive Capital Outflow Has Silver Lining
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Capital outflows are usually deemed to be a negative development for any economy, but in Russia’s case they help avoid economic overheating and are natural considering the country’s poor business climate, Russia's finance ministry and the Interna...
Euro’s Banking Union Is Iffy to Central Europe
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Four central European countries outside the euro zone share a concern that, through a planned banking union, the European Union’s single-currency block could impose rules on them that would lead to a loss of control over their financial sectors.
Towards removing hurdles to single market
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The European Parliament adopted yesterday a non-binding resolution addressing consumers' concerns with regards to the single market. In the resolution the Members of the European Parliament point out specific cases in which the lack of sufficient, un...
Blogs review: the patent war in IT
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Authors: Jérémie Cohen-Setton, Laurent EymardWhat’s at stake: Apple’s recent victory in its ongoing dispute over IP rights with Samsung has received a great deal of attention from regulators, academics and the media worldwide. It is, however, j...
The U.S. Sues Bank of America: A Spanking or Slap-on-the-Wrist?
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In late October 2012, federal prosecutors in New York formally accused Bank of America of “carrying out a scheme, started by its Countrywide Financial unit, that defrauded government-backed mortgage agencies by churning out loans at a rapid pace wi...
Banks Healthier?
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European banks may have begun their recovery since the ECB introduced its Outright Monetary Transactions. Private investors seem to have taken Draghi's action as a signal that Eurobanks will not be allowed to fail and have tentatively re-entered the...
Commission issues Communication on online gambling
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The European Commission unveiled its action plan on online gambling, "with a series of initiatives over the next two years aimed at clarifying the regulation of online gambling and encouraging cooperation between Member States" (see the Communicati...
The financial transaction tax faithful march on
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Tomorrow will mark another milestone in the long meandering path towards a international financial transaction tax, otherwise known as the Tobin tax. What exactly will happen? Well the European Commission, the EU’s executive arm, will approve a...
Should Citi Be Broken Up or “Prodded”?
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In 2011, the office of the special inspector general for the Troubled Asset Relief Program published a report on the aid provided to Citigroup by the U.S. Government during the financial crisis of 2008. “Unless and until an institution such as Citi...
EU Summit: Another Plan to Plan
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German Chancellor Angela Merkel set the stage for this EU summit by stating “this is not a summit where we will make decisions, but we will prepare decisions for December.” Unlike other EU summits in recent years, this one didn’t occur against...
Badmouthing the single market
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In addition to more predictable EU opposition on many fronts, prime minister David Cameron and senior UK ministers have turned their fire on basic tenets of the internal market, such as public procurement rules and the free movement of persons, as we...
FROB is not NAMA
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The post’s title acts as a self-selection device, since if your interest is piqued by the mention of Spain’s Fondo de Reestructuración Ordenada Bancaria (FROB) or Ireland’s National Asset Management Agency (NAMA), you’re alre...
Vertrauenswürdig? Immer mehr europäische Länder haben Ratingprobleme
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Bis vor wenigen Jahren galten sie als eine der sichersten Anlageformen überhaupt: Staatsanleihen von Mitgliedsländern der Europäischen Union. Im Zuge der Eurokrise ist dieses Bild in den letzten Jahren ins Wanken geraten. Welche Folgen sich daraus...
EU summit: Mañana mañana | Editorial
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Political fix remains vulnerable to the fiscal equivalent of the next extreme weather event to hit the eurozoneThis year's winner of the Nobel peace prize – that 27-nation bloc known as the EU – appears increasingly to make decisions in the small...
Lessons from Libor for EMU
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The European Council meeting has reached yet another agreement that will solve the EU’s financial crisis, this time relating to banking supervision. (Read about it here.) Mark Twain said something similar about giving up smoking: the EU finds i...
