The EACT’s next meeting…and European financial stability

May 2, 2010

The EACT’s ‘leadership team’ met in Paris at the end of last week to work on a number of issues including the agenda for our next (six-monthly) full EACT meeting – which is in Prague later in May.  I am tempted to say just that the current ‘usual suspect’ will dominate the agenda – that is to say where we are with the campaign to ensure sense rather than nonsense in the EU and global regulatory debate over regulation of OTC derivatives.

But although we will spend time on derivatives – on which a further blog entry may follow soon on where we are after the ECON meeting last week and the latest developments in the US – we have in fact a promising agenda that will include discussion about the SEPA implementation and the issues that still flow from that.  We’ll also be looking at how the banking environment is evolving – and probably also the increasing potential for companies to consider funding themselves from non-banking sources.

Most interesting in some respects – although perhaps not for the faint-hearted – was this suggestion during our Paris discussion: given all the turmoil right now over Greece and the PIGS (or possibly PIIGS, as one colleague suggested), should we not plan for one session in which we can look at just where we are on European financial stability and the wider issues now arising.  We will try to do so.

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