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.