Economy News Digest – 16/05/2016


Once a week, NEU offers a selection of relevant news and opinions on issues related to Economy.

EU to Fine Google with Record Sanction for Unfair Practices
By NEU – Newsletter for the European Union

Competition CommissionerThe European Commission has come to the conclusion that Google has breached EU antitrust laws and fined it around 3 billion Euros for the coming weeks. It is a case that has dragged on since late 2010. After three failed attempts at a compromise in the past six years, several people familiar with the matter told Reuters last month, Google now has no strategy to try to settle the allegations unless the EU watchdog changed its stance.
Read more here.


ICIJ About to Release the Full Panama Papers List
By NEU – Newsletter for the European Union

Panama Papers releasedThe International Consortium of Investigative Journalism (ICIJ) has released the full list of companies and people involved in the Panama Papers investigation on 9 May 2016. This is the largest-ever release of information about secret offshore companies and the people behind them, based on data from the Panama Papers investigation.
Read more here.


The European Union Remains a Laggard on Banking Supervisory Transparency
By Christopher Gandrud, Mark Hallerberg and Nicolas Véron on

Supervisory transparency, or the publication by prudential supervisors of data about the institutions they supervise, is an essential tool to ensure market discipline in the banking sector and thus supports the public-policy objective of financial stability, in complement to disclosures made by the banks themselves. In the European Union, we find that the already low level of supervisory transparency has generally not improved, and even deteriorated in early 2016.                                           Read more here.

How to Save the Ideas Behind TTIP
By Christian Odendahl on Centre for European Reform

4808It has been a bad week for the Transatlantic Trade and Investment Partnership (TTIP). Greenpeace leaked negotiation material on May 2nd that contained very little news: while the documents detailed the negotiating positions of the US, they were largely as expected. But that did not stop, for example, Germany’s Süddeutsche Zeitung from claiming that the leaks “go beyond the darkest fears” of TTIP sceptics. Partly as a result of the leaks and the largely one-sided press coverage, German support for the transatlantic deal has fallen further, with 70 per cent expecting disadvantages from it.
                                        Read more here.


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