Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

UK urges tougher ring-fence rules for EU banks

Tuesday, January 8, 2013 13:00
% of readers think this story is Fact. Add your two cents.

(Before It's News)

LONDON (Reuters) – British Chancellor George Osborne urged European Union policymakers on Tuesday to seriously consider adopting proposals to separate banks’ retail and investment banking operations.

“There is an interesting proposal on the table … which envisages ring-fencing European banks’ retail and investment arms into separate entities,” Osborne told a Berlin meeting of European officials, including German Chancellor Angela Merkel.

“Britain is already pushing ahead with similar reforms and I think it’s an idea that the EU, including Germany, should give serious consideration to implementing,” Osborne added, according to a statement provided by his office.

Osborne was referring to proposals from Finnish central bank governor Erkki Liikanen to ring-fence banks’ riskier activities, thereby reducing the danger they posed to the rest of the economy during a financial crisis.

(Reporting by David Milliken and Olesya Dmitracova)



    Source:

    Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Top Stories
    Recent Stories

    Register

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.