| Author (Person) | Read, Robert |
|---|---|
| Series Title | The Conversation |
| Series Details | 18.09.14 |
| Publication Date | 18/09/2014 |
| Content Type | Journal | Series | Blog |
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Despite his appointment being considered a coup for UK Prime Minister David Cameron by many, the reality is that Jonathan Hill must balance serving two masters and his new job may actually be a poisoned chalice for the UK government. As a UK-nominated commissioner, he will be expected to strive to protect the interests of the City of London and the leading global position of the UK financial services sector. But, in fact, his role is to work towards improving the oversight, supervision and regulation of the EU banking sector, which continues to be shored-up following the 2008 financial crisis. There are three pressing economic and political challenges that Hill is tasked with tackling: the banker bonus cap, regulation of the shadow banking sector and a proposed financial transactions tax. Many of these policies are well on their way to completion and so Hill – and Cameron – risk being tarnished by their association with the implementation of tighter regulation. |
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| Source Link | Link to Main Source http://theconversation.com/why-lord-hills-role-as-ec-finance-commissioner-is-a-poisoned-chalice-for-cameron-31794 |
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| Subject Categories | Business and Industry, Politics and International Relations |
| Countries / Regions | Europe, United Kingdom |
