Towards for a Progressive European Response to the Financial Crisis

The decisions about financial sector reforms at EU level are important because they transform political agreements, such a at the G-20, and international standards such as by the Basel Committee on Banking Supervision, into legal obligations that are subject to supervision. At the EU level, this is mostly done by adopting EU directives that are subsequently transposed in national laws of EU member states. At the national level, EU member states can still make financial sector reforms about particular issues or impose higher standards. This is a working document (comments are welcome).

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