欧州議会の経済金融問題委員会では、銀行の金利操作を防ぐために世界的なEURIBORの創設を検討
Bruselas propone un euríbor “global” para evitar manipulaciones
La CE reconoce que la desregulación financiera permitió el fraude en los tipos de interés
Cristina Porteiro Bruselas 25 SEP 2012 - 00:05 CET
Euribor Brussels proposes a "global" to prevent tampering
The EC recognizes that the financial deregulation allowed fraud in interest rates
Cristina Porteiro Brussels 25 SEP 2012 - 00:05 CET
The European Commission wants to ensure that the lack of regulation of the financial system allows a scandal similar to the recent handling of interbank interest rates (LIBOR and Euribor Anglo Continental), which have been implicated major credit reporting companies world.
In a meeting held yesterday by the Committee for Economic and Financial Affairs of the European Parliament, the Internal Market Commissioner, Michel Barnier, taught some of the letters with which the Commission has to take control of the financial system. Chastened by the failed self-regulation of the banks that in his opinion "have manipulated the market with very serious consequences for citizens," the Frenchman has proposed a single rate and comprehensive independent monitoring to prevent fraud at the time of fixing .
"It is a public good because it affects citizens therefore should be under public supervision and control" Barnier said before launching a message to the perpetrators of bank fraud: "Stop the culture of impunity that prevails in the financial . We must impose criminal penalties for those responsible know they will go to jail if they repeat this in the future. "
Under the proposal, the new index should be based on actual operations
Until now, Libor and Euribor mark the major banks in terms of liquidity and expectations of loan, which resulted in the creation of a cartel that agreed lenders set rates depending on their interests, hurting SMEs, mortgages and other sectors of the economy. According to the proposal submitted by the Commission wants the new index should be based on actual operations and not the bank forecasts.
Warmer and was cautious Competition Commissioner, Joaquin Almunia, who despite starting his speech accusing the financial system "jeopardize the survival of our economies," he acknowledged that the responsibility for market manipulation has been shared. "Banks are not the root of all evil. The rules were vague, not good, "admitted the Spanish, who publicly announced the intention to create a new regulatory framework in which your team is working.
A "fast" response
Given the criticism of the European institutions for failing to tackle the problems of deregulation of the financial system and curb the voracious hunger of banks, Almunia said the European Commission "acted quickly in received information and data relevant to a possible violation of the competition rules. "
The truth is that in 2008 the Financial Times and The Wall Street Journal echoed and illegal activities Barclays Bank and others accusing them of falsifying data and information. United States acted quickly by opening investigations that led to the British mortgage company to pay a fine of 363 million euros. The European Union initiated the investigation in late 2011 and currently working on regulatory reform to end the "casino capitalism" that has upended the real economy.
On possible fines, the Competition Commissioner clarified that the Commission can not impose sanctions on persons responsible for "alleged fraud" but if it is shown that there cartel, "companies will be fined in proportion to the harm they have caused and duration of it. " After his speech, Almunia said that clarify what has happened is their "top priority".
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