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Saturday, 12th May 2012

Addicted to Risk

Source: Corporate Europe Observatory

From the Summary:

This year the European Union is expected to adopt new rules on banking. In 2008 when the financial crisis broke, legislators promised bold reforms and public expectation was high. In view of the dire consequences of the collapse of big banks across Europe, now was the time to make up for the omissions of the past and fix the rules to avoid speculative excesses.

Today, more than three years later, those new rules are in the pipeline, but few expect them to be much of an advance. At the international level, the banking lobby watered down proposals for international rules, – called Basel III – and these showed so little improvement that it was hard to imagine the European Union could go lower.

Even so, thanks in part to lobbying by the banks, the proposal tabled by the Commission and discussed by the European Parliament and in the Council at the time of writing, is indeed weaker,driving standards lower than the global level.

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Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

More articles by Adrian Janes »



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