| Series Title | EurActiv |
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| Series Details | 2.5.12 |
| Publication Date | 02/05/2012 |
| Content Type | News |
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One of the main priorities of the Danish Presidency, January-June 2012 was to achieve agreement on the new EU rules on capital requirements for banks during the first half of 2012. The Danish Presidency therefore convened an extra ECOFIN meeting on 2 May 2012 with the purpose of achieving agreement on a general approach in the Council on the Presidency’s compromise proposal regarding capital requirements. Feature follow the outcome of this meeting, including objections from the United Kingdom. However, on the 14 May 2012 the FT reported that the UK was to drop some of its objections to the EU’s flagship reforms for the banking sector, removing the main political obstacle to a deal on one of the most divisive regulation issues in Brussels. Following the meeting the Danish EU Presidency stated that 'At yesterday's meeting, EU’s finance and economy ministers had a constructive discussion regarding the proposal for new EU rules on capital requirements for banks. The Danish Presidency believes that an agreement in the Council is close, and the Presidency hopes to come to a final agreement at the forthcoming ECOFIN' (on the 15 May 2012). Commentators noted that this diplomatic language disguised an acrimonious 16-hour long meeting with the United Kingdom strongly objecting to aspects of the proposals. |
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| Source Link | http://www.euractiv.com/euro-finance/danes-push-grand-compromise-bank-rules-news-512425 |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
