Europe arrogant to reject capital increase, says lawmaker
Parliamentarian hits back at European Commissioner's criticism of Basel model floors
European regulators are being arrogant about the strength of the banking system in their pushback against potential capital increases, according to a top financial legislator who was responding to a speech earlier in the day from the European Commissioner for financial services, Valdis Dombrovskis.
"I don't agree with Dombrovskis, because I would say there is a bit of European arrogance here," said Paul Tang, a member of the European Parliament's economic and monetary affairs committee
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