U.K. Needs Representation on EU Risk Board, Paul Myners Says

A board monitoring risks to the financial system set out under European Union proposals should include representation from the U.K., the country’s Treasury Minister said today.

Paul Myners told a parliamentary select committee in London that the U.K. is currently lobbying other EU member states that the U.K. should hold a seat on the European Systemic Risk Board, which will monitor the entire financial system.

“London is the biggest financial center in the Euro area quite naturally expects to have a voice,” Myners said today. “I am sure that in our negotiations with other member states we shall secure a satisfactory outcome.”

To contact the reporters on this story: Caroline Binham in London at cbinham@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

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