Brussels for Breakfast

Held on Tuesday, March 22, 2016


  • Graham Bishop (independent consultant,

  • Nicolas Veron (senior fellow, Bruegel / Peterson Institute)



Since our last B4B, a Civil War has broken out here in the UK over ‘Brexit’ – and, no doubt, our doughty europhile, Graham Bishop, will wish to warn us of the danger to life, limb and the City should the dark forces of euroscepticism prevail. But let’s hope there will be more to talk about than that. 

Among the things I have picked up this month, I would point to:

  • the growing pressure (from Cœuré et al) for a eurozone Treasury (whatever that means);
  • concerns about eurozone banking NPLs;
  • continuing discussions on an FTT;
  • the first anniversary of QE;
  • the saga of bonus cap rules;
  • the EBA’s stress tests and its review of the work done by supervisory ‘colleges’;
  • ESMA’s proposals for CCP interoperability;
  • IOSCO’s securities market outlook… and so on. 

In other words, there is masses of stuff to cover. Fortunately, Graham has a powerful wingman this month. Nicolas Véron is (I hope) well-known to all of you. He is both a senior fellow at Bruegel in Brussels and a visiting fellow at the Peterson Institute in Washington. He is a prolific author on financial supervision, on the eurozone policy framework and on accounting flimflam. He is a member of the board of the DTCC’s derivatives arm and of the AMF’s scientific council, as well as of the CFA Institute’s corporate disclosure policy council. And, on top of that, he is a jolly good egg.