Milestones of the Kangaroo Group

1984 - Dieter Rogalla, Horst Seefeld and Karl von Wogau sawing at a customs barriers on the bridge between Strasbourg and Kehl




1984 - Members of the Kangaroo Group discuss Britains participation in the European Internal Market with Margaret Thatcher when she visited the European Parliament in Strasbourg

(from left to right: Christiane Scrivener, Basil de Ferranti, Karl von Wogau, Elise Boot, Jeanette Oppenheim, Margaret Thatcher, George Benjamin Patterson, Dieter Rogalla, Thomas Raftery, Georgios Anastassopoulos, Fernand Herman



22 March 1984: Historic Lunch in Brussels - For the first time, a lunch is paid by Karl von Wogau with Kangaroo Members Fernand Herman and Axel Zages and Brussels journalists using the European Curreny (at that time it was the ECU).




Saturday, 2 May 1998 - Extraordenary Plenary Meeting of the the European Parliament. On this day the final decisions which countries participate in the Euro and who chairs the European Central Bank were taken.

(from left to right: Jacques Santer - President of the European Commission, Karl von Wogau - Rapporteur of the European Parliament, José María Gil-Robles y Gil-Delgado - President of the European Parliament, Gordon Brown - European Council)




2008 - Visit of Members of the Kangaroo Group to the European Union Border Assitance Mission to Moldova and Ukraine.


From left to right: Ioan Mircea Pasqu, Karl von Wogau, General Ferenc Banfi




2008 - Members of the Kangaroo Group visit the Nordic Battle Group in Sweden




2015 - Kangaroo Group meeting in Strasbourg. Dicussion about Brexit.

The Kangaroo Group aisbl
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Next Events


Wednesday, 21 October 2020 from 13:00 to 14:30 hrs

Lifestyle Choices and beating Cancer”



Michael GAHLER MEP, President of the Kangaroo Group


Dr. David NUTT, Imperial College, London



Deirdre CLUNE MEP, EPP/Ireland, Member of the Committee on the Internal Market and Consumer Protection, Member of the Special Committee on Beating Cancer

Tomislav SOKOL MEP, EPP/Croatia, Member of the Committee on the Internal Market and Consumer Protection, Member of the Special Committee on Beating Cancer 

... read more


Tuesday, 27 October 2020 at 16:30 -18:00 hrs


“Mighty creature or a phenomenal technology? Demystifying Artificial Intelligence”



➢ Christoph RAAB, Member of the Kangaroo Group



➢ Ingo HOFFMANN, International Group of Experts on Artificial Intelligence (G2IA)



➢ Damian BOESELAGER MEP, Group of the Greens-European Free Alliance/Germany, Member of the Committee on Constitutional Affairs, Member of the Special Committee on Artificial Intelligence in a Digital Age

➢ Lucilla SIOLI, Director – Dir A Artificial Intelligence and Digital Industry, DG Connect

... read more




Wednesday, 28 October 2020 from 13:00 to 14:30 hrs


Revising Solvency II to unleash investments for Europe’s Recovery“


Chair: Markus FERBER MEP, Chair of the KG Financial Services Working Group

Moderator: David DOYLE, Member of the Board, Kangaroo Group



Markus FERBER MEP, EPP/Germany, Member of the Committee on Economic Affairs, Coordinator

Didier MILLEROT, Head, Insurance & Pensions, European Commission, DG FISMA

Fabio MARCHETTI, Group Head of International Affairs, Generali

Olav JONES, Deputy Director-General, InsuranceEurope

Special Guest: Prof. Karel VAN HULLE , Goethe University (Frankfurt), Member of the EIOPA Insurance and Reinsurance Stakeholder Group and former EC Head of Insurance & Pensions 

... read more


    Dear Friends of the Kangaroo Group,
the curfew announced by the Belgian authorities they have asked to favour telework in order to slow the spread of covid19.
Therefore all events organized by the Kangaroo Group are cancelled or rather postponed.
The Kangaroo Group's staff will work remotely for the entire period required and you can reach us via email.
Hoping that these restrictive measures will allow us to continue working under correct conditions and that we can soon resume normal activity. We will keep you informed about our planned events foreseen for the coming month'.
Many thanks for your understanding and take care of yourselves,
Josepha & Florence     

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.

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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.

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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.  ...


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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.

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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 ...