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Petr Ježek
Born in Prague in 1965. A graduate of Prague’s University of Economics, Petr Ježek joined his country’s Ministry of Foreign Affairs and served as a diplomat. For some ten years, he held relatively high posts related to the country’s ties with the EU, e.g. heading the Foreign Ministry’s European Integration Department and serving as Deputy State Secretary for European Affairs. He also worked as chief of staff of then Czech Prime Minister Vladimír Špidla. In 2014, Petr Ježek was elected Member of the European Parliament on the ballot of the ANO 2011 party.
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The European Parliament on Wednesday approved new rules for regulation Europe’s trillion-euro money market funds industry. The legislation, approved by 487 out of 693 MEPs present, is based on a compromise proposal by Petr Ježek.
The new rules will transform one type of the funds, known as CNAVs, into a more secure format. That should significantly lower systemic risks to the financial system, seen as inherent in the CNAV funds, while ensuring the funds will remain attractive for investors and continue financing the real economy.
“I’m glad that the proposal won support from MEPs from across the board. It is a big step towards making this important financial tool safer while preserving its role in the European economy. It is now up to the European Commission and the EU Council to ensure that we move forward so that these new rules can quickly come into force,” says Petr Ježek.