THE BOARD OF THE KANGAROO GROUP 2017 - 2019

 

Elected on 12 July 2017

 

 

Michael Gahler MEP/EPP, President

 

Karl von Wogau, Secretary General

 

Ioan Mircea Pascu MEP/S&D, Vice-Chairman

 

Olivier Jehin, Communications Officer

 

Christine Leurquin, Treasurer

 

Josepha von Metternich, Director

 

 

 

Members of the European Parliament

 

Anna Maria Corazza Bildt MEP/EPP, Member of the Committee on the Internal Market and Consumer Protection, Sweden

 

Herbert Dorfmann, MEP/EPP, Member of the Committee on Agriculture and Rural Development, Italy

 

Ana Gomes, MEP/S&D, Member of the Committee on Foreign Affairs, Member of the Subcommittee on Human Rights, Member of the Subcommittee on Security and Defence, Portugal

 

Michael Gahler, MEP/EPP, Member of the Committee on Foreign Affairs, Member of the Subcommittee on Security and Defence, Germany

 

Ioan Mircea Pascu MEP/S&D, Vice-Chair of the Committee on Foreign Affairs, Member of the Subcommittee on Security and Defence

 

Paul Rübig MEP/PPE, Member of the Committee on Industry, Research and Energy, President of SME Global, Austria

 

Rainer Wieland MEP/EPP, Vice-President of the European Parliament, Member of the Committee on Legal Affairs, Member of the Committee on Petitions, Germany

 

 

 

Members from other Institutions, Academia and Experts

 

Marco Becht, Executive Director, European Institute of Corporate Governance

 

Graham Bishop, Adviser European Financial Affairs, GrahamBishop.com, former Rapporteur to the EU's Interinstitutional Monitoring Group

 

Rainer W. Boden, Adviser, Financial Services

 

David Doyle, EU Policy Adviser, The Genesis Initiative

 

Malcolm Harbour, former Member of the European Parliament, United Kingdom

 

Olivier Jehin, Rédacteur en Chef, Europe Diplomatie & Défense

 

Jean-Claude Lahaut, Expert

 

Astrid Lulling, former Member of the European Parliament, Luxembourg

 

Frédéric Mauro, Lawyer

 

Alexander Radwan, Former Member of the European Parliament, Member of the German Bundestag

 

Christa Randzio-Plath, Prof. Dr. h.c. University of Hamburg, former President of the European Parliament’s Committee on Economic and Monetary Affairs

 

Karl von Wogau, Former Member of the European Parliament, Secretary General of the Kangaroo Group

 

 

 

 

Members from Industry, Services and Trade

 

 

Leo Baumann, Nokia

 

Frédérique Biston, Vice President, Head of Volvo Group Representation

 

Marie De Saint Chéron, Safran Group

 

Emmanuel Jacob, Euromil

 

Hans-Jürgen Kerkhoff, Wirtschaftsvereinigung Stahl

 

Michael Langer, Senior Vice President External Affairs EU/NATO, Head of DIEHL Representation Brussels

 

Charles Laroche, Owner Laroche Conseil, Senior Advisor to IFRA

 

Christine Leurquin, VP, Institutional Relations, SES

 

The Kangaroo Group aisbl
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tel: 0032 2 280 60 95

fax: 0032 2 280 07 84

email: office@kangaroogroup.eu

internet: www.kangaroogroup.eu 

Next Events

4th Strasbourg Lunch

Wednesday, 18 April 2018 at 13:15 hrs

 

"What budget for which European ambition?"

 

Speakers:

Jan OLBRYCHT, PPE/Poland, Member of the Committee on Budgets,

Co-Rapporteur on MFF

Vincent MAGES, Vice President Corporate Public Affairs, Air Liquide

Hydrogen Company

... read more

Working Group on SPACE, SECURITY & DEFENCE

Tuesday, 24 April 2018 from 13:00 until 14:30 hrs

 

“The Eurocorps as an instrument for the

Common Security and Defence Policy”

 

Speaker:

Lieutenant General Jürgen WEIGT, Commanding General EUROCORPS

...read more

Energy Debate

Tuesday, 24 April 2018 from 18:00 to 21:30 hrs

 

"Energy and Space Synergies"

 

Speaker:

Jan Woerner, Director General of the European Space Agency

... read more

Working Group AUTOMOTIVE

Wednesday, 25 April 2018 from 13:00 to 14:30 hrs

 

“Clean and Energy-efficient road transport vehicles”

 

Speakers:

Andrzej GRZYB, MEP, EPP/Poland, Rapporteur, Member of the Committee on Environment, Public Health and Food Safety

Lars JOHANSSON, Head of Public Affairs, Volvo Bus

Michael SCHMITZ, Advisor, German County Association

...read more

Recent Publications

The City could find it cold in “Canada”

 

Discussion paper from Kangaroo Group Member Graham Bishop

 

New Year media reports suggest the UK Government thinks the EU27 is bluffing when chief negotiator Barnier states that UK-based banks will lose their “passports” to do business in the EU27. Instead, DexEU Secretary Davis has called for a “Canada plus plus plus” trade deal – implying that financial services will not find themselves at a disadvantage.

... read more

Euro “clearing”: Liability and Location 

Discussion paper from Kangaroo Group Member Graham Bishop

"The key interest rate contracts cleared in the UK are more than 50 times UK GDP, and 10 times the Eurozone’s GDP. Put starkly: €117 trillion of euro derivatives may have to be supported by liquidity based on the ECB’s €0.011 trillion capital and that of National Central Banks."

read whole artice below


Euro “clearing”: Liability and Location


16 January 2017

This issue of `clearing’ is likely to come to a head quickly once Article 50 Notice of `intention to leave’ is served by the UK - as a direct consequence of the G20 commitment to ensure there are no more taxpayer-funded bailouts of EU financial institutions. Post Brexit, Eurozone Member States are likely to be very concerned about capital market activities denominated in euro that – in a crisis – could create liabilities for their taxpayers. At that stage, UK-based financial firms will not be subject to EU law and therefore outside the ECB’s ability to enforce any necessary managerial change – unless the UK agrees to surrender control to EU institutions. 

However, it is very disturbing to an outsider that, eight years after the Lehman crash, there are still good grounds for concern in a systemic crisis– especially flowing from the “clearing” of euro:

ESMA 2016 stress test “A CM defaulting in one CCP would also be considered to be in default in all CCPs, in which it is a member, leading to more than 25 CM defaulting EU-wide…” 

The Commission’s December 2016 CCP Resolution Proposal “No Member State has yet developed a full national regime for CCP recovery and resolution which fully complies with the G20-endorsed FSB principles, including as regards the need for effective coordination and oversight against cross-border spill-overs.”

The magnitude of the risks are extraordinary: The key interest rate contracts cleared in the UK are more than 50 times UK GDP, and 10 times the Eurozone’s GDP. Put starkly: €117 trillion of euro derivatives may have to be supported by liquidity based on the ECB’s €0.011 trillion capital and that of National Central Banks. Any resultant credit losses would be a major political concern for Eurozone taxpayers, governments and Parliaments.

Does the EU27/ECB need to “do” anything further about Brexit? The ECB’s post-Brexit re-statement of its “oversight policy” provides a powerful analysis – implicitly - of the post-Brexit situation when it would have no powers to “induce change” in critical offshore financial market infrastructures. Once the Article 50 Notice has been served, all UK firms will be fully aware that their “EEA Authorisation” will expire at the moment of Brexit so they will need to make their own plans to continue their EU business.

The working assumption must be that the UK will not be a part of the European Economic Area (EEA) so any bespoke arrangement (normally taking the form of a Treaty) may require significant adjustment to many EU Directives and Regulations. The much-discussed “transitional arrangements” for UK firms might not be “in force” before 2023, given the necessary legislative processes. As risk-averse clients recognise the new risks, they may exercise their freedom to move their derivative positions to CCPs in a market where they can have a high degree of confidence that the ECB would supply liquidity in a crisis.

A major loss of derivatives business could worsen the UK’s balance of payments deficit by a third from its current record deficit - even at modest profitability levels for the derivative book. Parliament should require the BoE to analyse and publish the balance of payments implications in detail.

Original Text by Graham Bishop
Euro clearing 550 word article_FINAL.pdf
PDF-Dokument [108.8 KB]

Eurocorps as a pilot project for the European Defence Union

 

Discussion Paper on the basis of a meeting of the Kangaroo Group with General Ramirez

 

The decision of the United Kingdom to leave the European Union makes it necessary to rethink the European Union from the beginning. We have to ask ourselves what the citizens really expect from the European Union. In the past seventy years the European Union has made a major contribution to the security and prosperity of the European nations.

read more ...

Future of the Eurocorps

 

At a meeting with members of the Eurocorps in Strasbourg Karl von Wogau, Secretary General of the Kangaroo Group and Honorary Member of the European Parliament, stated that the Eurocorps should be moved into the center of the Common Security and Defence Policy. It should become the Preferred Headquarter of the European Union. Moreover its five framework nations France, Germany, Spain, Belgium and Luxembourg should take the decision to put the Eurocorps at the permanent disposal of the European Union.

read more ...

...

In the present discussion about Monetary and Political Union the opinion is often heard that a Political Union consists in total harmonization. But this is certainly not what we want to achive. The strength of Europe is its variety and the peaceful competition between its Member States. On the contrary the hard core of a Political Union is a common foreign and defence policy.  ...

 

read more ...

 

 

The Role of the Multinational Corps

 

The European Council in June has not been very encouraging for those who believe in the necessity of an autonomous Security and Defence Policy of the European Union. Public attention was taken by the problems of Greece and the drama of the refugees in the Mediterranean. The discussion about Security and Defence took only a very short time.

read more ...

Europe War and Peace

 

The author looks at general rules for peace preservation from Kant, Fukuyama, Einstein and Freud as well as Henry Kissinger and tries to draw conclusions for the present security situation of Europe. The presentation was in October 2015.

more ...

Monetary Union and Political Union

 

The author refers to Jean-Claude Juncker and Angela Merckel who have requested the creation of a European Army. He claims that the hard core of a Political Union is a common foreign and defence policy. He criticizes .......

... read more