Proposed E.U. Bank Laws Tougher Than Basel Rules
The E.U. may be planning to get even tougher on bankers than the Basel Committee on Banking Supervision. A parliamentary draft of a proposed law provides for higher capital reserves and lower bonuses.
EU Plans to Shake Up Ratings Agencies
A new draft law unveiled Tuesday by the European Union angered ratings agencies Moody's, Standard & Poor's and Fitch, although according to Internal Market Commissioner Michel Barnier it is designed to inject competition into the sector, currently dominated by the 'big three.'
Britain Sues Europe’s Bank
Britain is taking the European Central Bank to court on Thursday at the European Court of Justice in Luxembourg, the first time a government has taken such an action.