EU officials discuss ways to ensure financial stability

04/19/2010 | Wall Street Journal, The · Reuters · Bloomberg Businessweek

Finance ministers and central bankers from across the EU met recently to discuss ways to strengthen rules for the finance industry without hurting the region's competitiveness. Officials discussed the idea of a bank levy but expressed concerns about unintended consequences. Spanish Finance Minister Elena Salgado reiterated the need for a "level playing field at the international level" and warned that establishing an emergency fund could encourage excessive risk taking. "We have to try to reduce moral hazard ... so that we don't encourage financial bodies to take risks in the knowledge that governments will pick up the bill," Salgado said.

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Wall Street Journal, The · Reuters · Bloomberg Businessweek

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