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Changes through the PSD2 Directive
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Payment Services Directive II (PSD2) arrived in Europe on 13 January 2018, after two years of planning. The idea behind EU having this regulation is to open access to services and data to third-party service providers, a privilege which was initially limited to banks only. Banks will permit financial service providers to access their clients’ accounts via an Application Program Interface (APIs). 

 

What is the Effect of PSD2 on Banks and Customers?

With non-bank payments service providers expected to have access to bank APIs, the customers are undoubtedly the biggest...

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News
Who will the proposed EU Finance Minister represent?
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The European Commission has published proposals that envisage Europe having its own Finance minister as soon as 2019. However, the proposals appear to conflate the Eurozone – those countries already in the Euro – with the EU. This will increase fears in some non-Euro members, that they are being marginalised.

It is true that when Britain leaves Europe, 85% of the European Union’s economic output will be produced by the Eurozone. However, 24% of the EU’s population lives in the non-Eurozone countries. These countries include Poland and Hungary which are meant to join...

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News
EU Blacklist Could Mean Paradise Lost
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The release of more data concerning the tax arrangements of multi-national companies and wealthy individuals has seen the EU endeavour to step up its efforts to reduce tax avoidance. The so-called “Paradise Papers” contain confidential information from the Bermuda law firm Appleby Group Services Ltd, and although they disclose legal tax arrangements, they are increasingly viewed as an unethical way to divert money which could have gone in to public coffers for spending on public services.

 

A Tax-Haven Blacklist

For the last year, the EU has been discussing a blacklist on...

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News
MiFID Is Getting An Update
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MiFID is a Financial Instruments Directive that governs markets. It has been in use in all European Union member states since November 2007. MiFID is a crucial EU regulation of the financial markets that seeks to improve the efficiency and competitiveness of the markets by creating harmonized investment services for all activities related to the financial markets. This guarantees all investors in financial instruments advanced and harmonised protection.

 

Amendments

In 2011, the European Commission parliament agreed to a proposal of revising the MiFID policy. The proposal was in the...

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Analysis
Finance Market Hopes on Higher Interest Rates by the ECB
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Up until now, there hasn't been any formal communication from the ECB as in regards to the anticipated rise in the interest rates. However, there are certain reports touching on the tightened financial conditions that seem to imply much wider credit spreads, increased volatility, decreased equities and an increase in real rates. All of which happen to be indicators of a rising interest rate environment.

 

How sure are we that interests rates are going higher?

In the past month alone, there has been a disconnect between the bond markets globally and the equity markets. What's...

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Analysis
Integration of the eurozone countries
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Spain and France, among other member countries, are in strong pursuit to ensure the reformation of the eurozone. Spain forwarded a proposition to the European Commission suggesting the enhancement of economic integration through the euro. In connection to this, Spain proposes the implementation of the euro bonds and the completion of the banking union which is key in improving the governance of the eurozone. The motion further suggests the formation of an anti-crisis budget and the development of a common unemployment insurance scheme. Despite these suggestions, a report from the commission...

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