A gathering of top-flight bankers, politicians and academics have criticised the current EU rules regulating the banking industry as being inadequate.
"Self-regulation alone is not sufficient in order to guarantee global financial market stability," said the German state secretary for finance, Jorg Asmussen at the Annual European Services Conference held in Brussels on Tuesday (27 January).
Instead, he said banks should be forced to increase capital requirements - "the shock abs...
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