Articles by Francesco Guarascio

EU Strikes Low-Cost Deal With AstraZeneca to Pay COVID-19 Vaccine Claims

European governments will pay claims above an agreed limit against AstraZeneca over side-effects from its potential COVID-19 vaccine, under different terms to a deal struck with Sanofi, an EU official told Reuters. The deals reflect different strategies by two of …

COVID-19 Vaccine Makers Expect EU Liability Shield for Unexpected Side-Effects

Vaccine makers will be indemnified in Europe if their COVID-19 shots cause unexpected side-effects, an industry official said on Tuesday, as nearly 40 firms pursue talks on possible authorisation for shots in development. The European Commission has confidential liability clauses …

Limited Liability Protection for Drugmakers Hampers EU Coronavirus Vaccine Deals

The European Union is offering only partial protection to vaccine makers against legal risks from side-effects of their potential COVID-19 shots, European officials said, in a move that is hampering deals and contrasts with U.S. policy. With vaccines being developed …

EU Rules for Responsible Investing to Be Set for Insurers, Asset Managers in 2021

European Union finance ministers are set to adopt new rules this week that will require asset managers, insurers and pension funds to disclose environmental and social risks in their investments from 2021. The overhaul is expected to bring more clarity …

Euro Zone to Launch Public Cryptocurrency in Response to Threat of Facebook’s Libra

Euro zone governments and central banks are working on a long-term plan to launch a public digital currency that they hope would make redundant projects like Facebook’s Libra, which is seen as a risk to financial stability, officials said on …

Explaining Europe’s Growing Money Laundering Scandal

The largest ever money laundering scandal in Europe is rippling through the region’s banks. It began in the Baltics and has engulfed several Nordic lenders, notably Denmark’s Danske and Sweden’s Swedbank, who had large Baltic operations. Here are some facts …

EU Financial Services Chief Warns of Market Disruption from No-Deal Brexit

A no-deal Brexit would cause disruption and might also have an impact on liquidity in financial markets, the European Union commissioner in charge of financial services said on Tuesday in a stark reminder of the risks posed by a hard …

EU Bank Reform Includes Insurance, Bad Loan, Other Sweeteners

European Union finance ministers struck a deal on a major reform of banking rules on Tuesday, addressing some of the loopholes exposed by the global financial crisis. The overhaul, proposed by the European Commission in November 2016, sets the level …

UK Finance Minister Urges EU to Help Devise Hard-Brexit Contingency Plans: Reuters

Britain’s finance minister urged the European Commission to help devise European contingency plans for the financial sector in case of no deal on Brexit, pointing to growing concerns about a disorderly departure from the European Union. Philip Hammond made his …

EU Urged to Develop Common Regulations on Cryptocurrency

The European Union should adopt common rules on cryptocurrencies and scrutinize how new digital units are distributed to investors and subsequently traded, according to a report prepared for EU finance ministers. In the report, the Brussels-based think tank Bruegel argues …