Barnier panel to consider EU ring-fences
Wednesday 23 November 2011 - by Andrew Hickley
Internal market and services commissioner Michel Barnier told the European Parliament on Tuesday that the commission will establish a group similar to Jacques de Larosière's committee of wise men, which recommended a host of regulatory reforms needed in response to the financial crisis.
"I will be selecting people with a range of views and backgrounds and who are very proactive in making sure that risk management is organised properly," Barnier continued.
"I know of some names that spring to mind."
He added that while universal banks did not create the financial crisis, there are problems with current regulation.
"There are no taboos in my mind," as to the scope of reform, he said.
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