Archive: https://archive.is/2025.03.24-052155/https://www.ft.com/content/a4210c56-bd4c-4ca9-9cc7-36dba2dd3762
Europe’s drive to simplify and streamline financial regulation is making top supervisors nervous about the risk of key safeguards being watered down.
Two of the EU’s most senior financial supervisors told the Financial Times they were determined to avoid crisis prevention measures being swept away in the push to revive the region’s sluggish economic growth.
“If it is about deregulating and lowering the bar on financial protections, we will not be ready to tackle volatility.’’ said Dominique Laboureix, head of the Single Resolution Board — which handles failing Eurozone banks. ‘‘That means crises, which means less growth.”
The pointed intervention, which is uncommon for the watchdogs, comes after the European Commission recently announced plans to drastically cut the scope of business sustainability disclosure rules it introduced two years ago. It is also reviewing capital rules for banks and insurers as part of plans to boost financial market activity and growth.
This is absolutely true, for this to work we have to increase taxes, and IMO especially increase taxes on the rich.
For decades the rich has enjoyed steadily lowered taxes in most countries if not all, at the cost of average households.We are richer than most people think, it’s just that the 1% has gained more than everybody else.
Yeah, but they enjoy their tax bracket because they purchase it from the leaders of EU governments for pennies of its value to them. Look at Ireland, where the politicians refused to comply with EU’s tax requirements for Google, Apple and Meta. Men are weak and can be bought with trinkets. The Middle Class simply exist as mouth pieces for the corporate owners of Earth.
As an EU citizen please just give me slow but steady growth. Consistency beats irratic knee-jerk sprints and is a lot less risky.
But also boring
Slow and steady, please!
Why are people talking about taxing the rich -though I agree-, when the article is about safeguarding the European Capital Market?
It’s about the danger of being vulnerable to actors holding strong (market) positions to negatively influnce the market. Like the security banking crisis of 2008.
Some of us have been conditioned to understand „deregulation” as an attack on those that need protections most. This conditioning is due to real life experiences. 2008 banking crisis was not only caused by deregulation (which befitted the wealthy by design) but also resulted in a huge transfers of wealth due to bailouts that banks / wealthy got as an aftermath of the inevitable crash that it caused. No matter how you look at this, rich are always looking for an angle.
