European Parliament

La Vanguardia interview

“I feel angry”. She says it with a broken voice, looking down at the ground. “I’m in shock. Seeing everything that is happening, after putting my soul into my work, sometimes negotiating until four in the morning, feeling proud of what you have achieved for the institution you represent, with so many personal sacrifices…”. Irene…

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Speech – Recovery and Resilience Facility

The Recovery and Resilience Facility is not only a way to address the effects of Covid crisis, but a great leap forward towards a closer and deeper Union.   It complements the action of the European Central Bank, and partially overcomes the lack of a common European fiscal capacity for the time-being.   However, we would…

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Bloomberg Interview

Below is the full text of my interview with Bloomberg Professional Services for their Global Policymakers Profile series.  Here is the link to the original on the Bloomberg website. …. PERSONAL Career highlight Frankly, the most recent one. I was recently elected Chair of the European Parliament’s Economic and Monetary Affairs Committee. It has been…

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Recovery Plan – the Commission’s proposal

To respond to the social and economic damage caused by the Coronavirus pandemic, in May 27th 2020 the European Commission has presented its proposal (which will need to be approved by the European Parliament and by the Council) named: “Recovery Plan for Europe”. The plan is based on two key elements: an enhanced Multiannual Financial…

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ESM – Guide to the Eurogroup Agreement

Over the past few weeks the Italian public debate has once again stalled on the issue of the European Stability Mechanism (ESM) following the decision of the Eurogroup on April 9th to establish a new emergency line of credit to help Member States support the health expenditures related to Covid-19. The ESM had already been…

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POLITICO Interview

Below is the full text of my interview with POLITICO of May 5th 2020. Here is the link to the website. The EU’s post-coronavirus recovery fund must give countries cash in hand to overturn the recession, the chairwoman of the European Parliament’s Committee on Economic and Monetary Affairs said in an interview with POLITICO’s Brussels Playbook.…

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Coronavirus: the responses of EU institutions

Over the past few weeks several criticisms have been raised against the EU institutions, being accused of not having reacted and of not having provided responses to the Coronavirus emergency. On the contrary, if we look carefully we realise it is not so. The EU Commission, the ECB, the European Investment Bank, the European Banking…

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Eurogroup agreement: some clarifications

I would have never imagined that it would be this hard for some politicians to understand the difference between deciding to modify the rules of a treaty on financial assistance to member states and deciding to resort to it. I would equally have never imagined to witness the level of confusion and comments triggered two…

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A brief guide to SURE

The SURE programme has not even been announced yet and I already see fake news circulating on the web. On the basis of the Commission’s proposal published yesterday, I’ll try to answer some questions/doubts. Let me add a personal comment, placing myself between those who believe it is an historic decision and those who think…

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Coronavirus: hearing of EU Commissioners

Following last week’s meeting with the Coordinators of the ECON Committee to discuss the Coronavirus emergency, it has been decided to begin a series of meetings between the ECON Coordinators and the Presidents of the main European institutions that are engaged in tackling the economic implications of the pandemic. Today we have inaugurated this cycle…

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Coronavirus: the reply of the European Commission

Today Italy has received the official reply of the European Commission to the letter sent by Finance Minister Gualtieri to Vicepresident Dombrovskis and Commissioner Gentiloni in which he announced the new measures to contrast the Coronavirus emergency and in which he requested to exclude such extraordinary measures from the 2020 deficit objectives. The reply is…

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Towards new economic rules for Europe

Discussing and eventually modifying the European economic rules is not a taboo, but it must be done through adequate procedures and tools. A week ago the Commission has published a communication on the matter and this week in Strasbourg we have started the debate: we have before us an extraordinary opportunity to create the conditions…

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The ECB and the new monetary policy challenges

Addressing the Plenary Session in Strasbourg I have confirmed the support of the European Parliament for the monetary policy implemented up to the present day by the European Central Bank. I have nonetheless highlighted what I had already expressed last week during the hearing of President Lagarde in the ECON Committee: it is time for…

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Hearing of ECB President Lagarde

This morning I have chaired the hearing of ECB President Christine Lagarde. I am extremely satisfied of the meeting, as we have touched upon some very important issues. First, it has been important to reflect upon the fundamental role played by the ECB in the past years to preserve the monetary union, to contrast the…

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EBA Director nomination rejected by EP

Today the Plenary of the European Parliament has confirmed the decision, already voted by the ECON Committee, to reject the nomination of Gerry Cross to the role of Executive Director of the European Banking Authority (EBA). It is a vote which reaffirms the concerns and the requests of the European Parliament to adopt more stringent…

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Speech Conflict of Interest Resolution

Thank you Mr. President, Dear Colleagues, On September 17, 2019, Mr. Adam Farkas announced his resignation from his position as Executive Director of the European Banking Authority – which will be effective on January 31, 2020 – to become, starting from February 1, 2020, the CEO of AFME, a well-known lobbying company that – according…

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Speech on Conflict of Interest Resolution

Thank you Mr. President, Dear Colleagues, On September 17, 2019, Mr. Adam Farkas announced his resignation from his position as Executive Director of the European Banking Authority – which will be effective on January 31, 2020 – to become, starting from February 1, 2020, the CEO of AFME, a well-known lobbying company that – according…

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New EU Rules on Crowdfunding

Last Thursday, December 19th, we reached an important agreement that defines a set of criteria applicable to all ECSP – European Crowdfunding Service Providers that raise up to EUR 5 million per year. Crowdfunding is a relatively recent phenomenon which has quickly consolidated itself as an interesting fundraising source for startups and innovative SMEs. However…

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Speech – Fair Taxation

Thank you Mr. President Dear Colleagues, dear Commissioner, 240 billion dollars: this is the amount of missing tax revenues due to multinationals’ tax elusion, according to OECD estimates. Researchers from Berkeley and the University of Copenhagen estimated that in 2016 40% of big companies’ profits were shifted to tax heavens every year, corresponding to an…

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EU Taxonomy

What is a green financial product? What does it mean to invest in a sustainable business? These and other questions have been at the basis of our negotiations on the so called “Taxonomy”, a European rulebook that identifies the criteria to determine whether an economic activity is sustainable. After three months of “trilogues” (inter-institutional negotiations…

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Speech on “Fair Taxation” Resolution

Thank you Mr. President Dear Colleagues, dear Commissioner, 240 billion dollars: this is the amount of missing tax revenues due to multinationals’ tax elusion, according to OECD estimates. Researchers from Berkeley and the University of Copenhagen estimated that in 2016 40% of big companies’ profits were shifted to tax heavens every year, corresponding to an…

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Resolution on Conflict of Interest

The Resolution on the conflict of interest concerning those working for the European institutions has been approved! Perhaps not many of you know the “Farkas Case”: it is a recent matter which has sparked a heated debate in Brussels and that has motivated me to work on a resolution that was approved last Thursday in…

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