In an opinion article published in the International Banker last month, Santiago Fernández de Lis, Global Head of Regulation at BBVA, highlighted an apparent tension between those who believe EU regulation should promote growth and those who believe regulators should remain focused on maintaining stability.
In a recent report entitled "The Future of European Competitiveness," former European Central Bank (ECB) President Mario Draghi called for regulators to reduce red tape and simplify regulations to support financial sector competitiveness and innovation. And in her mission letter to the new Commissioner for Financial Services, European Commission President Ursula von der Leyen laid out her expectation for the Commissioner to take actions aimed at “ensuring the competitiveness of the financial sector and harnessing sustainable finance.”
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