Barnier faces challenges with "too big to fail" plan

01/29/2014 | Bloomberg Businessweek

EU Internal Market Commissioner Michel Barnier is preparing to present a plan to prevent banks from becoming "too big to fail". However, Barnier might see opposition because lawmakers say it is too late to present such a proposal. "It's a bit insulting to present this now," according to an e-mail from Sharon Bowles, chairwoman of the European Parliament Economic and Monetary Affairs Committee. "Barnier should have presented this much sooner before the election, or not at all. The deadline for the parliament to receive new, non-emergency, proposals before the elections expired in July last year."

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