The Fire Power of the Financial Lobby
The enormous influence and destructive power of financial markets became apparent with the global economic collapse of 2008 which fuelled a financial crisis from which Europe has yet to recover. These events revealed the dire need for stronger rules on financial markets. But reform has proved difficult, not least due to successful campaigns waged by the financial lobby in the European Union: its “fire power” in resisting reforms it dislikes has been all too evident with issues such as banking regulation, derivatives, credit rating agencies, accounting rules, and many more.
Art der Publikation:
Marcus Wolf, Kenneth Haar and Oliver Hoedeman
Corporate Europe Observatory (CEO), The Austrian Federal Chamber of Labour (Arbeiterkammer) and The Austrian Trade Union Federation (ÖGB)