The process was set up to speed up the adoption of EU law and to ensure member states’ implementation was consistent. The ECB used Lamfalussy to introduce the Markets in Financial Instruments Directive (MiFID).
Trichet said in a speech to the Economic and Monetary Affairs Committee: “We have always shared the stance that [the Lamfalussy process] should be exploited to the maximum possible extent before considering any far-reaching institutional changes.”
The central bank head said he considered t
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