France Calls on Europe to Quickly Adapt to Regulatory Rollback

Europe should “quickly adapt to any regulatory rollback” to protect the competitiveness of its banking sector, French Finance Minister Eric Lombard said as the gulf between the European Union and its key rivals grows.

The French have been key proponents of Europe’s drive to lessen burdens on banks by simplifying financial regulation and were one of three countries that persuaded the EU to bring forward a wide ranging review of the industry’s competitiveness by two years.