With Banking, What Happens in Europe Does Not Stay in Europe

The New York Times
March 27, 2014

It is often challenging enough to appreciate the political horse-trading surrounding the creation of United States bank regulations. We could certainly be forgiven for not understanding the political nuances of how the 28 member states of the European Union are creating new banking regulatory bodies.

Yet a last-minute compromise last week to create a so-called Single Resolution Mechanism, a central authority to resolve a bank failure in Europe, will have lasting consequences not only for European taxpayers, but also for Americans…Read More

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