Smaller EU nations stare down giants in capital floor standoff

EU member states clash over severity of internally modelled output floors for cross-border bank groups

In the heart of Brussels, a diminutive bronze statue portrays a small boy, stark naked and nonchalantly answering the call of nature into a fountain. Manneken Pis – the little peeing man – has outlasted several occupations of Belgium’s capital by powerful European empires and has come to symbolise the defiant spirit of its inhabitants.

Now, in the Council of the European Union, Belgian diplomats are taking a similarly defiant stance. Along with a coalition of smaller EU member states, they are

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