BRUSSELS, Feb 17 (Reuters) – London’s financial services
centre would lose access to the wider European Union should
Britain quit the bloc, the EU’s justice chief said on Monday,
warning that such a move would reduce its status to that of an
Viviane Reding’s blunt comments come amid a heated debate in
Britain over its future in the 28-country European Union and
will reinforce fears in the City of London that a departure from
the EU will hurt its position as a global financial capital.
BRUSSELS, Feb 12 (Reuters) – The European Commission called
on Wednesday for a dilution of U.S. influence over the
organisation of the Internet, a sign of tension following
snooping exposed by former U.S. spy agency contractor Edward
The European Union’s executive arm stopped short of
demanding greater government control as some countries like
China and Russia have pushed for.
LONDON/BRUSSELS (Reuters) – The European Commission has asked the Bank of England to explain how new allowances in British bankers’ pay comply with an EU bonus cap, an official at the bloc’s executive said, a new flashpoint of friction over the reach of financial control.
Under EU rules, from 2015 bonuses cannot be more than fixed salary, or double this amount with shareholder approval, and most of the bankers affected are based in London.
BRUSSELS (Reuters) – Corruption costs Europe 120 billion euros a year, or around one percent of economic output, according to the first ever report on graft in the 28-nation European Union by the executive European Commission.
The report published on Monday places the EU, often portrayed as one of the globe’s cleanest regions, in an unflattering light.
BRUSSELS (Reuters) – Corruption is a problem for almost half the companies doing business in Europe, a survey by the European Commission said on Monday, and an increasing number of European Union citizens think it is getting worse.
The report places the EU, often portrayed as one of the globe’s cleanest regions, in an unflattering light. Among businesses, belief is widespread that the only way to succeed is through political connections.
BRUSSELS (Reuters) – The European Commission has rejected Germany’s request to take the lead in regulatory scrutiny of Telefonica’s (TEF.MC: Quote, Profile, Research, Stock Buzz) proposed 8.6 billion euro ($11.7 billion) bid for KPN’s (KPN.AS: Quote, Profile, Research, Stock Buzz) German unit E-Plus, the watchdog said on Thursday.
Germany’s antitrust watchdog had on November 20 asked to be given the lead regulatory role in assessing a bid which will help shape its domestic telecoms sector.
BRUSSELS (Reuters) – Europe has unveiled a blueprint to isolate high-risk trading at big banks in a bid to challenge their dominance, provoking a hostile response in France amid fears it could benefit U.S. rivals exempted from the rules.
After the collapse of Lehman Brothers in 2008, world leaders pledged to tackle banks that were “too big to fail”. Yet throughout the years of financial turmoil, many of Europe’s biggest banks continued to grow.
BRUSSELS, Jan 29 (Reuters) – Europe will unveil a blueprint
to challenge the power of big banks on Wednesday but critics
believe it will change little as it does not strictly separate
multi-billion-euro market bets from savers’ money.
After the collapse of Wall Street’s Lehman Brothers in 2008,
world leaders pledged to tackle banks that were “too big to
fail”. Yet throughout the crisis, many of Europe’s top banks
continued to grow.
BRUSSELS (Reuters) – Some EU countries that have criticized U.S. cyber surveillance are “hypocritical” as they themselves are failing to protect citizens’ private information, the European Union’s top justice official said on Tuesday.
Justice Commissioner Viviane Reding – a critic of the data gathering exposed by former U.S. spy contractor Edward Snowden – said she was seeking more legal assurances from Washington but urged European countries to improve their own behavior.
BRUSSELS, Jan 27 (Reuters) – Germany’s finance minister said
on Monday he was open to the creation of a separate European
parliament for countries using the euro, a step that could
deepen divisions within the European Union.
Wolfgang Schaeuble’s comments, made during a visit to
Brussels, challenge the very foundations of the European Union
where lawmaking for all 28 nations is by the bloc’s current