Testy politicians muscle in on Basel II negotiations
Members of the European Parliament (MEPs) based in Brussels and members of the US House of Representatives in Washington DC are beginning to throw their weight around in the Basel II process.
Both legislative bodies are campaigning for a larger role in shaping the new accord for their country, and, according to a source actively involved in Basel II issues within the European Parliament, are demanding that the process of setting banking regulation be made "more democratic".
Members of the two bodies have been in communication with each other about this issue - in October, Alexander Radwan, a German MEP and author of a September report on Basel II, sent letters to Michael Oxley
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