Skip to main content

What We Do

October 5, 2012

February 16,2012 – Senate Banking Committee hearing entitled "Examining the European Debt Crisis and Its' Implications."

Has the European Union (EU) done enough? Ranking Member Shelby addressed the progress, or lack thereof, in solving the European debt crisis. Conceding the that the answer to the question was “no”, Chairman Johnson focused the hearing on the question of the political will of the EU to make the necessary and difficult economic decisions.

Representatives from the Departments of Treasury and State, along with the Federal Reserve,comprised the hearing’s only panel. They agreed the European economy was a “mess”, but said the EU has made considerable progress in setting up the institutions and processes needed to resolve the problems.

The witnesses did not believe U.S. firms held an excessive amount of European sovereign debt and told the Committee that they would convey concerns about the restrictions on U.S. financial institutions holding foreign debt contained in the proposed Volcker Rule.

Congressional Activities

Donate Today!

Contact Us

For media inquiries, please contact or 202-618-6433.

To sign up for our email newsletter, please visit this page.

This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact or 202-618-6433.


Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today