EU finance ministers fail to agree on bank rules

European Union finance ministers failed to reach an agreement to toughen bank capital rules in the face of British resistance and now aim for a deal at their next meeting on May 15th.

3rd May, 2012
British Chancellor of the Exchequer George Osborne was one of the loudest voices calling for member states to gain additional flexibility.

European Union finance ministers failed to reach an agreement to toughen bank capital rules in the face of British resistance and now aim for a deal at their next meeting on May 15th.

Sixteen hours of talks in Brussels that ended early today snagged on when countries can tighten domestic banking regulations and add to EU minimum requirements on how much

capital banks must hold. A compromise proposal from Denmark, which holds the EU’s rotating...

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