The EU Single Market in Financial Services:
Regulating EU Financial Markets in times of turmoil Luxembourg, 6 & 7 October 2008 Seminar Venue: European Commission, Jean Monnet Building (room M4) |
The EU-sponsored Institute for Public Administration invites senior public advisors, judges, officials and private bankers to a two day seminar in October 2008 in Luxembourg.
According to its organisers, "the seminar is aimed at EU officials, national civil servants, lawyers and other professionals, in particular from private banking and financial institutions or public authorities and bodies in these sectors, as well as others dealing with the aspects of the EU acquis addressed."
The different issues are presented by professional advisors or bankers. At least to discuss the new Consumer Credit Directive, consumer Mobility and Data Protection Frank Pauli from ECRC partner vzbv in Germany is announced.
In view of the present credit crisis which is mentioned in the general title but has left too little traces in the programme itself its striking optimism contrasts with daily news about predatory lending practices, bankrupt banks, bail outs and rising problems of overindebtedness.
Not without quasi-religious connotations the invitational text presents the actual EU-policy as well as its globalisation as a complete success to develop a wealthier, better "dynamic, innovative and attractive Europe". The English reader may wonder where the "increased employment" opportunities may have been created in the banking sector where mergers and acquisitions presently threaten thousands of bank employees. The prospects of removing further "barriers to the internal market" will not meet all expectations.
If this kind of presentation intends to attract high judges and the leading figures in public services who want to make up their own opinion its text should be made more open to questions than to giving answers. It is not enough to point out that critical questions are welcome. The issues as well as the presenters should be selected in a way to make such quests more credible.
We have numbered the three basic theses of this invitation which we think should be put under scrutiny:
"(1) In the last few years, the completion of the Single Market in Financial Services has featured prominently in the agenda of the European legislator, as a crucial part of the EU’s objective of achieving increased employment in a more dynamic, innovative and attractive Europe.
(2) Indeed, the Financial Services Action Plan 1999-2005 laid the foundations for a strong financial market in the EU, bringing about considerable changes: improved financial performance, increased liquidity, stronger competition, and greater financial stability.
(3) However, there are still a number of barriers to be surmounted before complete integration can be achieved.
For this reason, in its White Paper on Financial Services 2005-2010, the Commission set out its objectives in this policy area for the period up to 2010 so as to
(4) finally achieve an integrated, open, inclusive, competitive, and economically efficient EU Financial Market."
"Within this context, this seminar will provide a forum for discussion and exchange of views on the progress of a number of legislative measures in this area (payment services and the Single European Payments Area, initiatives in the retail financial sector, financial risk management, securities and investment funds and the review of the financial services supervisory architecture), their status of implementation and potential future initiatives. Finally, in the midst of the current situation of international financial turbulence, the number of initiatives and proposals advanced by the EU to regain financial stability will be presented and discussed. ...
For programme and registration, please go to: http://www.eipa.eu/en/activities/show/&tid=2444 |
| ID: |
41548 |
| Author(s): |
UR |
| Publication date: |
21/07/08 |
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Created: 21/07/08. Last changed: 21/07/08.
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