GFS LinkedIn
GFS Facebook
GFS Twitter
GFS RSS feed

Karas dismay at EU 'bank bashing'

Friday 3 December 2010 - by Andrew Hickley

Othmar Karas (far left)

A senior MEP has claimed that European parliamentary debates are often undermined by "aggressiveness" and suggested attacks on the banking sector have gone too far.

Othmar Karas, rapporteur for the EU's proposed new Capital Requirements Directive, showed his dismay of "bank bashing" at a European Savings Bank conference in Brussels on Thursday.

"If you look at the ongoing political debates, I often have the impression that aggressiveness and polarisation take place rather than actual debate on issues."

"The hostility towards banks from the media and the public at large is something we have not overcome yet, but bashing the banks means that we do not recognise what is necessary," Karas said.

The MEP - who is vice-chair of the European People's Party and coordinator on the Special Committee for the Financial, Economic and Social Crisis - welcomed the decision of G20 leaders to back the Basel III accord on bank capital requirements at last month's South Korea summit.


But Karas added that Parliament still had much work to do to ensure the implementation of new capital requirements in Europe.

"Our work is not done," he continued.

"We have to find the right balance between necessary regulation on one hand, and the stimulation of growth and employment on the other."


WHAT DO YOU THINK?
 
Name:
   
Email:
   
Comment:
   
Post as Anonymous
  Display name
   
Please, enter security code
   
 

No comments yet.

STRAW POLL

Will markets in 2012 have a tougher time than 2011?

Yes

No

Don't know

View results

FIND A REGION world regions