157th Brussels for Breakfast – CPD Notes

[...]The new Commission is now in office – but without a UK Commissioner. The Commission has issued proceedings against the UK that specify all the steps taken to persuade the UK to make an appointment. Hopefully, the situation will have been regularised - one way or the other – before there is an opportunity to challenge the legitimacy of the new Commission. [...]

The ECB’s Financial Stability Report and the EBA’s report on Risks and Vulnerabilities make sombre reading. Yes – NPLs are still falling and are at reasonable levels apart from Greece and Cyprus; and capital is high, though perhaps at a plateau. But profitability is low and now falling again. [...]

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