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Europe’s Banking Risk Plan Is a Long Shot 

January 30, 2014
David Jolly, The New York Times

The European Union on Wednesday revealed a long-awaited proposal to reduce the systemic risk posed by big banks, a measure that would bring the bloc’s regulations more closely into line with those of the United States. But it is unlikely to become law anytime soon.

Presenting the plan at a news conference here, Michel Barnier, the commissioner responsible for overseeing financial services, described it as “the final stone in the structure of our ambitious financial reform.”

Like the Volcker Rule in the United States, the proposal aims to limit the likelihood that big banks will again endanger the financial system with the kind of risky behavior that brought on the financial crisis.

Read more: The New York Times

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