The fire power of the financial lobby | Corporate Europe Observatory
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, accountting
rules, and many more.
Despite this manifest presence of “the
financial lobby”, until now there has been no comprehensive survey of
its size and power in the EU. This report is intended to fill that void.
