Trichet pushes for greater regulatory role

Jean-Claude Trichet, the president of the European Central Bank (ECB), has called for European Union to grant his institution a greater regulatory role.

Trichet said on Monday that the EU had the "opportunity for an important institutional change."

"[The EU] can adapt the supervisory framework to the new financial landscape, reflecting the considerable increase in European financial integration that we have observed in recent years," Trichet said. He added that this was a key lesson from the