Theresa May is meeting with EU leaders in Brussels, “working extremely hard,” according to her spokesperson, as a standoff between the UK PM and the EU over a Brexit delay has put the prospect of a cliff-edge departure back in play for British companies. “If you’re a business now thinking no-deal was off the table,” […]
Liberia – The leaders of the United Arab Emirates have setup a technical working group that is expected to conduct assessment and to conclude final arrangements for an immediate direct invest in the country. The technical working group would be comprised of civil engineers, agriculture experts and other technocrats, who are expected in Liberia […]
The European right temporarily suspended, but for an unspecified duration, the elected representatives of Fidesz, the party of Viktor Orban. The Hungarian prime minister is accused of leading a populist campaign against Europe. Sanction, but do not deprive yourself of an ally of weight. The European right, which includes among others the French Republicans and […]
Theresa May is meeting with EU leaders in Brussels, “working extremely hard,” according to her spokesperson, as a standoff between the UK PM and the EU over a Brexit delay has put the prospect of a cliff-edge departure back in play for British companie…
Via Washington Examiner Former President George W. Bush got his first hole-in-one at Trinity Forest Golf Club in Dallas Wednesday. Keep reading at source… Patriotify: The social network built by America. Click here to join our community!
Jody Vanessa Watley (born January 30, 1959]) is an American singer, songwriter, record producer, and artist ]whose music crosses genres including pop, R&B, jazz, dance, and electronic soul. In 1987, she won the Grammy Award for Best New Artist and has been nominated for three Grammy awards. In 2008, she was the recipient of a Lifetime Achievement Award from Billboard magazine, […]
Governments have lost control of the narrative that they are in control of events. Everyday I wake up to another instance of outrageous censorship from some ‘social media’ company blocking or banning someone for no apparent reason. The latest outrage is Twitter banning the account of Wikileaks publisher Julian Assange’s mother, Christine. Australian and New Zealand […]
But I’m going to guess that it has something to do with giving some government entity (like the executive branch) some kind of unconstitutional power they shouldn’t have ever had in the first place. https://schiffgold.com/fun-on-friday/fun-on-friday-did-you-know-there-are-31-ongoing-national-emergencies/ by SchiffGold Well, if you’re any kind of news junkie, you probably know that the Senate voted this week to […]
FILE PHOTO: Sign of the European central Bank (ECB) is seen ahead of the news conference on the outcome of the Governing Council meeting, outside the ECB headquarters in Frankfurt, Germany, March 7, 2019. REUTERS/Kai Pfaffenbach
March 21, 2019
FRANKFURT (Reuters) – The European Central Bank has launched a rare attack on EU governments for failing to give it ultimate oversight of clearing houses processing trillions of euros worth of securities.
Dominated by the London Stock Exchange, the clearing of financial contracts denominated in euros has become a political battleground since Britain voted to leave the European Union in 2016, with the bloc’s authorities vying to gain oversight of this key market on both sides of the Channel.
Under a provisional deal struck this month, EU governments and lawmakers gave the Paris-based European Securities and Markets Authority (ESMA) and national supervisors the final word in supervising central clearing counterparties (CCPs) based in the EU.
But the ECB said in a letter published late on Wednesday this undermined its ability to “monitor and assess risks posed by CCPs” and sought to block a change to its own rules that would force it to follow ESMA’s decisions on the matter.
“Under these amendments, the ECB would not enjoy regulatory powers in respect of CCPs established within the European Union,” ECB President Mario Draghi said in the letter to George Ciamba, chair of the EU’s General Affairs Council.
This body, which prepares the meetings of the European Council of EU government leaders, was expected to decide on the proposed changes next week.
If the ECB is successful in blocking the amendments to its statute, ESMA would still likely gain oversight of clearing houses but its decisions would not be binding on the ECB.
This would limit the ECB’s responsibility and possibly also leave the burden of providing liquidity to clearing houses in times of stress to the euro zone’s national central banks.
In the letter, also sent to the head of the EU’s parliament and other authorities, the ECB’s Governing Council withdrew its 2017 recommendation to change its statute with respect to clearing.
“One of the overarching objectives of the Recommendation cannot be fulfilled, namely, to ensure that the Eurosystem would have binding powers to monitor and assess risks posed by CCPs,” Draghi said in the letter.
The head of the European Parliament’s economic committee, Roberto Gualtieri, struck a sympathetic tone at a hearing on Thursday, blaming the European Council and Commission for failing to take on board the ECB’s concerns.
(Reporting by Francesco Canepa; Editing by Robin Pomeroy)
Former US President George W. Bush celebrated his first-ever hole-in-one on Wednesday, but was immediately trolled by tweeters for the photo he took to commemorate the achievement. Read Full Article at RT.com from RT – Daily news https://ift.tt/2Ctc5I8
Today’s Action: Support the Paycheck Fairness Act – vote expected next week!
https://redfortyeight.com/2019/03/20/the-failure-of-thinking-in-marxist-abstractions/ https://redfortyeight.com/2019/03/20/anthropocene-as-endgame/ https://redfortyeight.com/2019/03/20/the-climate-crisis-is-human-historical-evolution-failing/ https://redfortyeight.com/2019/03/15/dmnc-and-nationalization-how-about-expropriation/ https://redfortyeight.com/2019/03/12/virtual-revolution-now-revolutionary-marshals-failsafes-and-top-drawer-at-ready/ https://redfortyeight.com/2019/03/11/bolshevisms-squandered-opportunity/ https://redfortyeight.com/2019/03/11/socialism-in-one-country-and-an-international-a-global-commons-should-socialists-want-to-keep-the-state/ https://redfortyeight.com/2019/03/09/nationalization-why-not-say-it-we-need-a-revolution-to-nationalize-everything-the-green-new-deal-must-transform-the-economy/ https://redfortyeight.com/2019/03/09/socialist-con-men-refusing-to-specify-a-socialist-blueprint-creates-a-void-for-stalinists-to-fill-does-the-left-actually-have-a-program/ https://redfortyeight.com/2019/03/08/antisemitism-american-lickspittles-and-the-israeli-zionist-gangster-mafia-hinayana-mahayana-analog-and-the-birds-eye-view-of-the-eonic-effect/ https://redfortyeight.com/2019/03/08/5756/ :Simply declaring for ‘socialism’ isn’t enough https://redfortyeight.com/2019/03/07/a-new-view-of-left-history/
WASHINGTON — Casting aside rare censure from Republican lawmakers, President Donald Trump aimed new blasts of invective at the late John McCain , even claiming credit for the senator’s moving Washington funeral and complaining he was never properly thanked. By the time the president began his anti-McCain tirade in Ohio on Wednesday, several leading Republicans had […]
By Frisky Larr No doubt, the first reaction to an article bearing a title of this nature in a blame-weary nation that Nigeria has currently become, will be “What has that got to do with Jonathan again?”. While such exasperations may be founded on legitimate and fully comprehensible grounds, the facts underlying the assertion are […]