| Author (Person) | Masters, Brooke, Parker, George |
|---|---|
| Series Title | Financial Times |
| Series Details | 16.11.09 |
| Publication Date | 16/11/2009 |
| Content Type | News |
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Following an urgent inquiry into the European Commission’s proposals for Macro and Microprudential Financial Regulation, the Treasury Committee of the UK House of Commons published its report 'The Committee’s Opinion on Proposals for European Financial Regulation' on the 16 November 2009. The report concludes: 'Reaching agreement on such an ambitious package in less than three months is extremely ambitious; we believe it is overambitious. Even though there is a consensus that reform of the European financial institutions is needed, that reform needs to be carefully established; it is better to be right than quick. We have identified serious problems with the Commission’s proposals which need to be dealt with before the Council ages to the draft legislation and it moves on to the next stage'. The EU Presidency is pressing for adoption of the proposals by ECOFIN on 2 December 2009. The report says 'We consider that is far too fast: the proposals will set in place a framework which should last for many decades, and there should be proper time for consideration, otherwise, this could end up as a recipe for a muddle'. |
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| Subject Categories | Business and Industry, Internal Markets |
| Countries / Regions | Europe, United Kingdom |
