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Alston & Bird LLP | USA, Global | 24 Jun 2010

U.S. outlines goals for upcoming Toronto Summit, as EU leaders issue open letter to G-20 leaders

On Tuesday, in advance of the G-20 Summit to be held in Toronto this weekend, U.S. Treasury Secretary Timothy Geithner and Director of the National Economic Council Larry Summers published an op-ed in the Wall Street Journal outlining their agenda at the Toronto Summit and “highlighting the importance of the G-20 in building a united approach to global economic recovery."


Alston & Bird LLP | European Union | 17 Jun 2010

EU leaders agree to publish stress test results, among other initiatives

Although today's meeting of the European Council was still dominated by measures to address the ongoing economic crisis, EU leaders announced that they have taken action in four key areas.


Alston & Bird LLP | European Union | 30 Sep 2009

ECB President and Eurogroup Chair warn the European Union not to begin exiting financial support measures

This week President Jean-Claude Trichet, President of the European Central Bank, and Mr. Jean-Claude Juncker, Chairman of the Eurogroup (which comprises of the 16 European Union countries that have joined the euro) cautioned members of the European Parliament in separate statements not to begin implementing measures to exit the crisis.


Alston & Bird LLP | European Union | 24 Sep 2009

EC issues legislative proposals seeking to create EU-wide system of financial supervision

Today, the European Commission (EC) announced important legislative proposals that are intended to strengthen the framework of financial supervision in Europe at both "the macro and micro-prudential supervision levels" by creating the "first EU-wide system of financial supervision."


Alston & Bird LLP | European Union | 21 Jul 2009

Key European financial market players issue joint statement calling for improved financial supervision

On Friday, some of Europe’s key financial market players, including the European Banking Federation (EBF), the European Federation for Retirement Provision (EFRP), the European Private Equity and Venture Capital Association (EVCA), the Federation of European Accountants (FEE), the Federation of European Securities Exchanges (FESE) and BUSINESSEUROPE issued a joint statement expressing their support for "a reinforced European Financial Supervision system, broadly supporting the European Council recent Conclusions."


Alston & Bird LLP | European Union | 10 Jun 2009

Ecofin Council moves forward to strengthen EU financial supervision

Yesterday, the Economic and Financial Affairs Council met to discuss the reform of the European Union’s “supervisory framework for financial markets,” following the recommendations of the High-Level Group on Supervision, chaired by Mr. Jaques De Larosiere, “aimed at strengthening the supervisory system and rebuilding trust in the wake of the global financial crisis.”

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