European #Banking Authority (#EU banking regulator) figures show UK hosted 2,346 bankers taking >€1m in 2011; total for other EU 26 just 739— Asad Yawar (@Mediolana) July 15, 2013
#EBA figures highlight 'real over-dependence on financial services' + 'relatively cute regulatory regime' #HelloKitty tinyurl.com/qb6u9uw— Asad Yawar (@Mediolana) July 15, 2013
Filed under Economics, Finance, Political Science, Politics
Tagged as bailouts, CMS Cameron McKenna, EBA, European Banking Authority, Financial Conduct Authority, Prudential Regulation Authority, United Kingdom
Another scandal. We need more transparency. We need institutions that can provide adequate regulation of every sector. We need a government capable of doing what needs to be done. When you have imbalances as stark as this, there are correcting forces that will come into play sooner or later. Ultimately those in power require some level of cooperation from everyone else, but they seem to have forgotten that.
As ever, you make some excellent points. We would only add that ultimately this tendency towards extreme and uncritical financialisation is a society-wide problem. Back in 2006, 55% of credit cards in Western Europe were issued in the UK; maybe these kind of developments are less surprising in this context.
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