EU’s Financial Transaction Tax is coming
On April 29th the European Court of Justice, EU’s highest judiciary has rejected the UK’s bid against what could eventually become an EU-wide tax Financial Transactions Tax (FTT). While we are highly unlikely to see such tax being raised particularly soon, one definitely can’t afford the complacency of not treating it as a genuine possibility of even underestimating the importance of such possibility. As it stands, the case of the European FTT has three dimensions: […] read more
Business&law news!
Adam Pasierbek & Mikołaj Firlej about Business&Law news! Is your bank using XP? – On April 8th, Microsoft is set to cease providing support for the Windows XP software. While this move may have little impact on the individual users, a more curious problem relates to the XP’s importance for the financial infrastructure. Most notably, around 95% of the ATMs in the World run an appropriated version of XP, which means that their operators will either […] read more
The Banking Union is at the Gates
Anyone with a general interest in European affairs must surely be aware that since the recent crisis the EU, like most major governments around the World, took keenly to regulating its financial system. Not everyone, though, is aware that its regulatory framework is taking shape just as those words are being typed. Let us start with a bit of history. In 2009 (which now feels like a decade ago), a group of experts under […] read more
Business&law news!
Adam Pasierbek & Mikołaj Firlej about business and law news ! Main topic: UK monetary system Where does the forward guidance lead? What does one do when a policy mechanism one has put in place works better than anticipated? One could either sit back and enjoy the fruits of a good policy design – or start carefully considering the next, possibly yet more difficult step. The latter option is more advisable if […] read more
Another patronage – Mitigating the impact of the Economic Crisis in Europe by legal regulations
We are excited to inform you that Business & Law takes patronage over the International Conference organized by ELSA Cracow. The conference theme will be “Mitigating the impact of the Economic Crisis in Europe by legal regulations”. The conference will be held from 26th-27th of April 2013 in Auditorium Maximum – Didactic and Congress Centre of the Jagiellonian University, Cracow, Poland. The main goal of this conference is to review key issues related to […] read more
POLAND – A HUB FOR CHINESE EXPANSION IN EUROPE?
GENERAL OVERVIEW According to the World Bank’s data the People’s Republic of China (further “China” or “PRC”) is currently the second world’s largest economy (GDP ranking) with economic ambitions exceeding the Asian region. PRC already expands its influence in Africa and Latin America by concluding numerous trade agreements. And what about Europe? From the Chinese point of view the economic crisis that preoccupies Europe seems an opportunity rather than an obstacle. Now, the question […] read more
Banking, Competition and Merger Policy: Challenges Following the Recent Financial Crisis
In 2008 the world witnessed one of the most devastating financial crises in recent history. Its force swept away several of the most powerful US investment banks, bankrupted mighty US and EU commercial banks and dried up banks’ capital worldwide (Beck et al., 2010; Johnson and Kwak, 2010). The financial crisis brought severe economic recession, dumping national and global growth and causing cumulative banking losses in excess of a trillion Euros (Vives, 2010). The cost […] read more
Artur Kluz cited in FINANCE The Executive Magazine for Emerging Europe (Frankfurter Allgemeine Zeitung)
It is a great pleasure for Business&Law Blog to announce that Mr. Artur Kluz was cited the article titled – Active Zone published by FINANCE The Executive Magazine for Emerging Europe (Frankfurter Allgemeine Zeitung). The article reaches the issue of bankig sector in emerging Europe. The link to the article is www.finance-ee.com or, the PDF directly, http://www.finance-ee.com/pdf/Finance-EE-04-2011-CoverStory.pdf .
Banks in Poland for sale
Polish banks were not hit hard by the financial crisis. However, the same cannot be said about the parent companies of Polish banks. Mostly because of financial difficulties – parent institutions of Polish banks are willing to sale banks in Poland. At least three banks operating in Poland are on sale according to newspapers. Banking sector in Poland has already undergone some major changes with Santander’s takeover of Bank Zachodni WBK and Raiffeisen Bank’s […] read more
50 Biggest Banks in the world as of 2011
Global Finance revealed its annual ranking of the World’s 50 Biggest Banks, as measured by total assets. Here are 25 banks from the list: 4 from France, 4 from United Kingdom, 4 from United States, 4 from China, 3 from Japan, 2 from Switzerland, 1 from Germany, 1 from Netherlands, 1 from Italy and 1 from Spain. In other perspective – almost half of the are from EU countries (12), more than half from Europe (14), […] read more