Crisis of confidence

As market instability raises the spectre of a pan-European systemic crisis, debate is heating up over how EU banks should be regulated. David Benyon assesses the various proposals for changes to the regulation framework and whether they will be capable of preventing another crisis

The current financial market instability is raising calls for greater co-ordination among regulators - even consolidation of regulators - around the globe. In Europe, work to provide greater co-ordination of regulatory efforts is already well under way, thanks to the implementation of the Capital Requirements Directive. Now, however, politicians and regulators are taking another look at whether a