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.
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.