Following the 2019 elections of the new European Parliament, the new Members of Parliament and the new European Commission College have not had much time to set in before facing a number of crisis situations. The Corona epidemic following an initial outbreak in China end of 2019 has become the greatest economic risk for global growth, but not the only one.Download
2018 ended with an important political agreement on the banking package at the Ecofin Council meeting on 4th December.
It is an official acknowledgement of the important role of public banks by the Council, the Commission and the European
Parliament, which have adopted a clear definition of so called Public development credit institutions. This is a major step
forward which allows us to ensure our role in the development of European territories.
10 years after the start of the financial crisis, 2017 has been marked by the return of steady economic growth and good employment figures in the EU. Nevertheless, big risks to financial stability remain. The possible escalation of trade tensions with the US as well as the US’s consideration to retreat from global multilateral frameworks for trade and cooperation creates high levels of uncertainty for the global economy. Within Europe, the launch of Article 50 of the Lisbon Treaty, formally initiating the process for the exit of the United Kingdom from the European Union, moreover jeopardizes the EU’s objective of less fractured financial markets and more harmonized rules and supervision across Europe.Download
The issue of financing the proliferation of weapons of mass destruction (WMD) has gained momentum recently as a result of international disputes over the nuclear armament programmes of Iran and the Democratic People’s Republic of Korea. The European Union (EU), as part of wider efforts by the international community, has put in place a complex regime to prevent and combat the financing of WMD proliferation. This regime can be characterized as a new hybrid, with elements borrowed from the conventional financial sanctions and the anti-money laundering/ combating the financing of terrorism regimes. This paper addresses the practical implementation difficulties of the EU’s anti-proliferation financing regime and the role that the banking sector can play in the fight against WMD proliferation and its financing. It argues that—next to national export control measures aimed at restricting the illicit transfer of proliferation-related goods and services—financial measures can only play a limited role, because banks are not provided with adequately updated and actionable information on proliferators by the competent authorities.Download
This paper presents the main findings of the 2017 survey on national DBs that the World Bank Group (WBG) conducted in collaboration with the World Federation of Development Financing Institutions (WFDFI). This is the second survey that the WBG has prepared; the first was published in early 2012. Sixty-four DBs from different parts of the world, mainly from middle-income countries, participated in the survey.Download
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