Germany, France and Italy urged the European Union to show restraint in financial rule making and instead focus on boosting the competitiveness of its banking sector, the latest sign of a global political shift to prioritize economic growth over regulation.
The EU’s three biggest economies want the bloc to ease some rules that are already in place so that banks will have “a level playing field” with other major jurisdictions. They also called on the next European Commission to “refrain from launching new large-scale initiatives” in finance over the short to medium term, issuing the plea in a joint letter to the director general for financial services.
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Publish date : 2024-10-04 04:23:00
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