The EU is about to adopt new rules that will help trade in securitised loans, the very financial instruments that helped cause the 2008 financial crisis. Despite warning signs of a new 'subprime bubble' in car loans coming from the US, carmakers and financiers have lobbied the EU to make it easier to speculate on such loans.
ECB advisory groups are used as lobby platforms by the financial industry, our new report shows. 'Open door for forces of finance at the ECB' reveals that the advisory groups counselling the European Central Bank are dominated by representatives of some of the most influential global financial corporations.
Corporate lobbyists have enjoyed the biggest share of consultations with the UK’s Department for Exiting the EU, as well as those with the EU Brexit Task Force. New research by Corporate Europe Observatory and Global Justice Now reveals their privileged access and the secrecy around these lobby meetings.