Goodhart attacks new European supervisory structure
Academic labels three new watchdogs “a waste and a mistake”; former financial secretary Lord Myners scornful of Basel III
Charles Goodhart, a professor at the London School of Economics who was formerly a member of the Bank of England's Monetary Policy Committee (MPC), on Tuesday condemned arrangements to create three pan-European watchdogs.
The arrangements, finalised earlier this month, establish a European Banking Authority, a European Securities and Markets Authority, and a European Insurance and Occupational Pension Authority. The watchdogs will arbitrate in disputes between national supervisors and will also
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