EU must ‘share burden’ of banks

Article reports that the European Banking Federation (EBF), the European Federation for Retirement Provision (EFRP), the European Private Equity and Venture Capital Association (EVCA), the Federation of European Accountants (FEE), the Federation of European Securities Exchanges (FESE) and BUSINESSEUROPE have issued a joint statement, July 2009, expressing their support for a reinforced European Financial Supervision system.

They said that political decisions need to be taken on how to 'share the burden' when cross-border banks and financial institutions get into trouble as part of an overhaul of Europe’s financial supervisory system.

EurActiv, 20.7.09: Calls growing for 'burden-sharing' on bank bailouts http://www.euractiv.com/euro-finance/calls-growing-burden-sharing-ban-news-222387

BusinessEurope: BUSINESSEUROPE and key financial market players aligned to call for improved financial supervision, July 2009 http://www.businesseurope.eu/DocShareNoFrame/docs/12/IFLNELAAGFIKHBGGJHHJEKMJPDBG9DWNBG9LTE4Q/UNICE/docs/DLS/2009-01609-E.pdf

ESO: Background information: Financial supervision disputes set for delay http://www.europeansources.info/record/financial-supervision-disputes-set-for-delay/

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