Navigation path

Login   |   Register

Advanced search Search in:    Audio    Photo    Video    Shotlist


OR









Extracts from the press conference by Joaquín Almunia, on cartels in the financial sector

134 views

On 4 December 2013, Joaquín Almunia, Vice-President of the EC in charge of Competition, gave a press conference at the European Commission in Brussels, Belgium, on cartels in the financial sector. The European Commission had fined 8 international financial institutions a total of €1 712 468 000 for participating in illegal cartels in markets for financial derivatives covering the European Economic Area (EEA). Four of these institutions participated in a cartel relating to interest rate derivatives denominated in the euro currency. Six of them participated in one or more bilateral cartels relating to interest rate derivatives denominated in Japanese yen. Such collusion between competitors was prohibited by Article 101 of the Treaty on the Functioning of the European Union (TFEU) and Article 53 of the EEA Agreement. Both decisions were adopted under the Commission's cartel settlement procedure; the companies' fines were reduced by 10% for agreeing to settle.
PHOTO SHOTLIST INFO PRESS MEMO

Type: Summary of press conference   Reference: I-084393   Date: 04/12/2013   Duration: 03:58
Personalities:   Almunia, Joaquín |   Colombani, Antoine  
Location: Brussels - EC/Berlaymont  
Languages: ORIGINAL

Tags: Bank | Cartel | Competition | Finance
© European Union, 2013   /   Source: EC - Audiovisual Service
Director: Emmanuel Coundouris
To download, please log in






Related videos

03:58 Extracts from the press conference by Joaquín Almunia, on cartels in the financial sector
Extracts from the press conference by Joaquín Almunia, on cartels in the ...
Ref: I-084393
Date: 04/12/2013
35:49 Press conference by Joaquín Almunia, on cartels in the financial sector
Press conference by Joaquín Almunia, on cartels in the financial sector
Ref: I-084391
Date: 04/12/2013
10:10  Antitrust - Commission fines banks € 1.71 billion for participating in cartels in the interest rate derivatives industry:- press conference opening remarks by Joaquín ALMUNIA, Vice-President of the EC in charge of Competition
Antitrust - Commission fines banks € 1.71 billion for participating in cartels ...
Ref: I-084414
Date: 04/12/2013

Related photos

Press conference by Joaquín Almunia, Vice-President of the EC, on cartels in the financial sector
Press conference by Joaquín Almunia, Vice-President of the EC, on cartels in the ...
Ref: 024631
Date: 04/12/2013
Video Player   Need some help?


You don't find what you are looking for? Ask us!


Fri 23/06
European Commission - Upcoming events The news: The G20 Summit, under the German Presidency, takes place in Hamburg. The European Union will be represented by European Commission President Jean-Claude Juncker and European Council President Donald Tusk.
Fri 23/06
European Commission - Upcoming events The news: In June 2017, the European Commission will present its 8th monthly report on the progress made towards an effective and sustainable Security Union. The report will track the implementation of the various Commission work streams relating to security issues and will identify areas...
Fri 23/06
European Commission - Upcoming events The news: In June 2017, the European Commission will present a legislative proposal to strengthen the mandate of the EU Agency for the operational management of large scale IT systems (eu-LISA).
Fri 02/06
European Commission - Upcoming events The news: On 29 and 30 June, the College of Commissioners is travelling to Tallinn for its traditional visit to the incoming Presidency of the Council of the European Union, which in the second semester of 2017 will be held by Estonia.
Fri 23/06
European Commission - Commissioners' weekly activities Brussels, 23 June 2017 (Susceptible de modifications en cours de semaine) Déplacements et visites   Lundi 26 juin 2017 Transport, Telecommunications and Energy Council Mr Frans Timmermans receives Mr Werner Faymann, Special Envoy of the United Nations on Youth Employment and former Chancellor of...
Fri 23/06
European Commission - Press release Brussels, 23 June 2017 EU humanitarian aid boosts funding against cholera outbreak in Yemen The European Commission is scaling up its response to an unprecedented cholera outbreak in Yemen with an additional €5 million, bringing total EU support for efforts to tackle the disease to...
Fri 23/06
European Commission - Press release Brussels, 23 June 2017 Over the past 2 years, the EU and Lebanon deepened their partnership. In view of increasing challenges, notably due to the crisis in Syria, the EU stepped up its support to Lebanon, boosting socio-economic development, reinforcing cooperation on security, education, good...
Fri 23/06
European Commission - Press release Brussels, 23 June 2017 Today the European Commission is proposing to invest €2.7 billion in 152 key transport projects that support competitive, clean and connected mobility in Europe. In doing so, the Commission is firmly delivering on its Investment Plan for Europe and on Europe's connectivity...
Fri 23/06
European Commission - Fact Sheet Brussels, 23 June 2017 In the context of the Investment Plan for Europe, the Connecting Europe Facility (CEF) plays a major role in stimulating European growth and jobs by bridging the investment gap in Europe, one of the Commission's top priorities.
Fri 23/06
European Commission - Daily News Daily News 23 / 06 / 2017 Brussels, 23 June 2017 Protecting Europeans: European Council of 22-23 June focuses on security and borders, defence, trade and economic development At the meeting of the European Council of 22-23 June, EU leaders welcomed the encouraging return to...

Go to useful links page Useful links

Go to rss page Go to EU Tube page Go to twitter page Go to facebook page Go to contact page


Credit © European Union, 2017