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29th Mar 2024

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EU financial markets agency wants more powers

The Paris-based European Securities and Markets Authority (ESMA) told the European Commission, in a letter sent on Tuesday, that it wants more powers over credit rating agencies and clearing houses, including the option to impose higher fines. Supervision is mostly done at national level now, but ESMA said "a new balance" must be struck, in light of the Capital Markets Union project and the UK leaving the EU.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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