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More powers to the European Central Bank

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Offline the leveller

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More powers to the European Central Bank
« on: May 08, 2013, 08:45:55 PM »

German cabinet approves European banking supervision
 

The German government has endorsed a banking supervision scheme which gives more powers to the European Central Bank (ECB). Separately, the cabinet took steps to strengthen shareholders' rights.
 

The German cabinet on Wednesday approved the first phase of a European plan to create a banking union in the 17-member eurozone.
 
The coalition of Christian Dremocrat and pro-business Free Democrat ministers backed the creation of a banking supervisor under the ECB. This initial step is to be followed by a scheme which will enable member states to decide jointly on closing, or salvaging, struggling lenders.


EU summit agrees on banking supervision
 
The ECB is to supervise the bloc's biggest banks which operate across national borders. Smaller lenders are to stay under the control of national authorities.
 
EU member states and the European Parliament agreed last March on the need for a cross-border, banking supervision mechanism. The aim was to prevent governments having to support ailing lenders with taxpayers' money.
 
The new supervisory scheme is to apply to all 17 countries in the eurozone, with other EU members free to join.
 
Shareholders' rights
 
The German cabinet on Wednesday also took steps to strengthen shareholders' rights by giving them a say in defining the annual salaries of top managers. Investors will be able to debate and decide on managers' salaries at annual shareholder meetings. These decisions were previously made by the firms' supervisory boards.
 
The cabinet refrained from setting a legally binding ceiling for managers' salaries. The lower house of the German parliament has to approve the government's decision.
 
hg/jm (dpa, AFP, Reuters)
 

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EU summit agrees on banking supervision
« Last Edit: May 08, 2013, 09:05:00 PM by the leveller »


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Re: More powers to the European Central Bank
« Reply #1 on: May 08, 2013, 08:54:56 PM »

Godfrey Bloom of UKIP: Central Bankers Should be Arraigned as ?War Criminals?
by Michael Krieger


Coming off the heels of a fantastic performance in recent local elections, the UKIP continues to make waves in both the UK and the Continent itself. In this case, I refer to a recent powerful performance at the European Parliament courtesy of Godfrey Bloom (UKIP) and member of the European Parliament.
 
For many years, I have stated that Ben Bernanke was and is committing crimes against humanity, and would one say stand trial much like the war criminals at Nuremberg.  It appears I am no longer alone in echoing such sentiments, as Mr. Bloom has just done so before the European Parliament.
 
I once said that Nigel Farage is Category 5 political hurricane.  That hurricane has landed.
 



h/t to globaleconomicanalysis.blogspot.com for unearthing these gems.

 
 
 

Michael Krieger | May 7, 2013 at 9:48 pm | Tags: Ben Bernanke, EU, European Parliament, Local Elections 2013, Nigel Farage, UK Independence Party | Categories: News Items | URL: http://wp.me/p2NEyt-1r1
« Last Edit: May 08, 2013, 08:59:56 PM by the leveller »


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Offline the leveller

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Re: More powers to the European Central Bank
« Reply #2 on: May 08, 2013, 09:13:39 PM »
This was passed to me from a friend in the USA.  Notice how empty the Parliament chamber is - and even then only 1 MEP applauds.
The EU hates UKIP!
 
 
http://libertyblitzkrieg.com/2013/05/07/godfrey-bloom-of-ukip-central-bankers-should-be-arraigned-as-war-criminals/#comments


He could have pointed out that the UK would NOT be going bankrupt if we were not paying Billions into the Eurozone in membership fees  - and also have been bailing out the Euro even though the UK is NOT in the Eurozone! MEPS tell us to keep out of their business, not allowed to join their Euro discussions as we are NOT in the Eurozone, then take Billions of GBPs from us to bail out the Euro. What a disgrace.

Fernea


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