The EU is failing to meet international rules to make bank lending safer, according to the Basel Committee on Banking Supervision, an international body created in 1974 to come up with worldwide standards on keeping banks in check.
The committee gave the EU a clean bill of health on most of a draft law on capital requirements for banks (CRD IV), classifying 12 out of 14 components of the proposals as "compliant" or "largely compliant" with the Basel rules. However, it expressed concerns...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.