The Joint Committee of European Supervisory Authorities (ESAs) analyzed the impact of large sets of data on consumers and financial institutions and concluded, that despite the potential risks arising from the use of Big Data, the benefits outweigh the potential costs.
The shrinking labor supply that is reported by entrepreneurs from the Central and Southeast European (CSE) countries may soon have a negative impact on economic growth in the region. In the countries of the so-called old EU, this problem is still less important.
With a delay of almost a year, the Basel Committee on Banking Supervision (BCBS) finally issued the last part of regulations aimed at completing the reform of prudential rules initiated after the outbreak of the global crisis.
The European Bank for Reconstruction and Development believes that economies should search for a new model of growth that goes beyond the imitation and import of technologies. EBRD indicates three areas where new sources of growth should be sought.
Seven German MEPs across the political spectrum called on the German government to clarify its position on the politically contentious planned Nord Stream 2 gas pipeline linking Russian natural gas sources with German consumers.
The Lithuanian central bank has initiated a regulatory sandbox for start-ups that use blockchain technology. Bank of Lithuania will set up a dedicated platform through which companies may develop their services.
The European Banking Authority has announced the launch of stress tests of the banking sector in the European Union. The exercise will involve 48 banks, including PKO BP and Pekao SA from Poland.
The percentage of employees without the certainty of continued employment, because their contracts are concluded for a period of no more than three months, turns out to be resistant to positive changes in the economic situation.
MREL is a key instrument enabling the liquidation of banks without threatening the stability of the financial system, are now close to conclusion. The work on regulations is now close to the end.
Consumers in Poland pay 29 per cent less for natural gas and electricity than the average in the European Union. These differences, however, are decreasing.