Draghi: European and U.S. banks are trying to weaken Basel III

06/14/2011 | Global Financial Strategy

Mario Draghi, governor of Italy's central bank and the leading candidate to succeed Jean-Claude Trichet as president of the European Central Bank, defended his past role at Goldman Sachs Group during a public session with European lawmakers. Draghi, who is also chairman of the Financial Stability Board, signaled that European and U.S. banks are aiming to water down Basel III rules and voiced concern about a Greek debt default.

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