EU might alter Basel III to fit the region, Barnier says

12/6/2010 | Bloomberg

Michel Barnier, internal-market commissioner for the EU, said the Basel III capital and liquidity rules might be altered by the EU if they threaten the region's economic recovery. Barnier will lead the EU's implementation of the rules, which have been scrutinized by some governments and the banking industry. Othmar Karas, a lawmaker who is involved with Basel III in the European Parliament, said implementation must consider "European banking specificities."

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