Trade talks not about financial deregulation, EU official says

06/14/2013 | Reuters

Despite concerns from U.S. politicians, free trade negotiations with the EU have nothing to do with harming financial regulation or weakening the Dodd-Frank Act, says Peter Kerstens, a counselor for the European Commission. "Any assertions that ... the European Union wants to deconstruct Dodd-Frank, or wants to assist the industry in deconstructing Dodd-Frank, I think is just illusionary," he said. "We did not spend more than five years of hard labor reforming the European financial sector to do away with all these reforms in a trade negotiations."

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