Well, mebbe

She claimed that the resilience of banks in the face of the coronavirus pandemic was thanks to the swathes of financial regulation introduced by the EU after the crisis.

Myself I think it might be likely that it’s about the stonking mountains of capital they have to hold these days. But, you know, opinions differ:

She added, “What we want to have as effective regulation, we do not like light touch and deregulation is not on our agenda.”

That’s just stupid.

Sometimes less regulation is more effective. As is light touch and so on.

2 thoughts on “Well, mebbe”

  1. There’s a pleasing irony in the Irish EU financial services commissioner extolling the EU’s performance on regulation (a) because of the plethora of zombie banks domiciled in the euro zone and (b) because the Irish tax-payer was milked at the EU’s behest in order to bail out Ireland’s oh-so-well-regulated banks, failing which the big German and French banks would all have gone phut.

  2. I have owned and run a retail FS business since the mid 1980’s. I can assert that the whole ‘light touch regulation’ meme is just lies. No, worse than that that. Total Bollocks. The FSMA2000 (broadly an EU inspired racket) built to literally millions of paragraphs of regulation. The burden of which added £Bn’s to FS costs. And then, clearly, in 2008 failed. Contrary to what this bint says the problem is regulationism by witless and self serving bureaucrats. The less we have the better.

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