BoE deputies suggest refinements to EU law-making
Bailey and Cunliffe see room for streamlining the process of EU legislation
The European Union's legislative process could be made more efficient and effective, particularly in the area of banking regulation, two deputy governors of the Bank of England (BoE) said today.
In testimony before a committee of the UK's House of Lords, Jon Cunliffe and Andrew Bailey pointed to what they see as flaws in the EU's approach to legislating banking regulations.
Cunliffe, a veteran of the EU's machinations from various roles before joining the BoE, said the European legislative
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