EU watchdogs warn that weakening rules risks another financial crash - FT article

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.” [...]Read full article online