After long negotiations a compromise deal on new EU legislation to regulate trade in over-the-counter (OTC) derivatives and make the derivatives market safer and more transparent was struck by Parliament and Council representatives on Thursday. Derivatives trading is widely believed to have contributed to the global financial crisis.

Draft EU legislation to discourage insider trading and market manipulation was discussed for the first time in the Economic and Monetary Affairs Committee on Monday. MEPs focused on how best to define "insider information", ensure proper surveillance, encourage whistle blowers and punish offenders.

A Eurozone financial transaction tax would not only curb high-frequency and intermediary traders, but could even boost overall GDP, said financial experts at an Economic and Monetary Affairs Committee hearing on Monday. MEPs also reiterated their support for the idea, although some said that the Commission proposal needs more fine tuning.

Mortgages should be subject to normal marketing and advertising rules, and lenders required to give prospective buyers specific information to enable them to assess the likely impact on their finances before signing up for one, said the Internal Market Committee on Wednesday. To this end, the committee amended a draft directive which aims to curb irresponsible mortgage borrowing, and also tighten up the supervision of lenders, whilst respecting existing lending practices in EU Member States.

Stepping up supervision of credit rating agencies could help to eliminate their conflicts of interest, but obliging companies to "rotate" their use of them could actually reduce competition among agencies, argued experts at a public hearing held by the Economic and Monetary Affairs Committee on Monday and Tuesday.

The functioning of the European Finance and Stability Mechanism (EFSM) and the European Finance and Stability Fund (EFSF) will be debated by Economic and Monetary Affairs Committee MEPs and external experts on Monday from 15.30h to 16.30h and Tuesday from 17.30h to 18.30h. Speakers will include EFSF chief Klaus Regling.

Miercuri, Parlamentul European a tras un semnal de alarmă în legătură cu posibilele riscuri ale acordului interguvernamental în curs de negociere privind consolidarea uniunii economice. Rezoluția parlamentară exprimă îndoieli serioase în legătură cu nevoia unui astfel de acord în afara sistemului UE, subliniind că legitimitatea democratică trebuie îmbunătățită și că acordul trebuie să încurajeze și creșterea, nu numai să impună austeritate.

The Eurozone is in a "very grave state of affairs", Mario Draghi told Economic and Monetary Affairs Committee MEPs on Monday, in his first visit as head of the European Systemic Risk Board. Mr Draghi highlighted the need not just for commitments, but also for prompt and coordinated action by Member States, to resolve the Eurozone crisis. He also set out his options for the EU's bailout fund, which had been downgraded during the meeting.

The proposed new legislation to strengthen budgetary oversight of Eurozone countries should allow as much economic governance as possible to take place within the normal EU system, rather than outside it through international agreements, Economic and Monetary Affairs Committee MEPs unanimously said on Monday evening. Many also highlighted a risk that the legislation could undermine the democratic legitimacy of budgetary policy if the Commission were not made more accountable.

A very broad agreement in favour of an EU financial transaction tax emerged on Monday, at the start of the Economic and Monetary Affairs Committee's work on the legislative proposal. Spokespersons for Parliament's various political groups all advocated such a tax, at least throughout the Eurozone, and many deplored France's weekend hint that it could go it alone.