Solvency II - France does 'dirty deal'

The decision by Ecofin, the EU's Economic and Financial Affairs Council, to throw out the controversial group support directive (GSD) from Solvency II was part of a "dirty deal" between the French presidency and the counties opposed to its introduction in return for their support for the inclusion of an equity dampener mechanism, according to Sharon Bowles, shadow rapporteur for the Solvency II process.

"The French said 'If you allow the equity dampener, we will dump the group support directive

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