C&S 'last chance saloon'
PARIS, FRANCE – The European financial services industry is in the 'last chance saloon' on the issue of clearing and settlement reform, said Charlie McCreevy, European commissioner for internal markets and services, speaking at the French Bank Federation in Paris in late March.
McCreevy, and other EU officials, met with financial services industry executives in February to try and urge banks and other organisations to develop an industry-led solution that will reduce the complexity and costs associated with Europe's clearing and settlement arrangements. Clearing and settlement has been on the table for some time – many see it as the 'back half' of the revolutionary
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