There can be no more Basel delays, warns Bolkestein
The European Union will not meet its CAD 3 implementation targets if the new Basel II capital Accord is hit by further delays, Frits Bolkestein, internal market and taxation commissioner for the European Commission (EC), warned at a conference today.
Bolkestein added that the EC was disappointed at this year´s further delays to the Accord, and hoped the final rules would be drawn up by the middle of next year.
He admitted that the new Basel rules were "not a perfect fit" in the European context, and said
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