European Banks Push Back Against EU Plan to Revive Financial Sector
By Aboki Forex —
Europe's biggest banks and lobbying groups are challenging key parts of a European Union plan to revive the bloc's financial system.
Lenders, lobbyists and other stakeholders submitted 121 responses to the European Commission plan. The responses include calls for some elements to be dropped, new measures to be introduced, and demands for swifter action.
Industry Pushback
The submissions show that major lenders and their representatives are not fully behind the proposal. Some want specific parts removed. Others want fresh elements added. A third group wants the Commission to act faster.
Scale of Response
The 121 responses point to wide engagement with the plan. Europe's biggest banks and lobbying groups are among those contesting key parts of the EU's effort to revive the fortunes of the bloc's financial system.
What It Means
The pushback leaves the European Commission with competing demands as it works on the plan. Banks and lobbying groups are seeking changes to the proposal.