FT, your protégé Draghi, before any audacious gamble, should dismantle overly-cautious-nanny bank regulations

Sir, in your “Mario Draghi’s audacious gamble” September 7, you write: “The eurozone’s financial market is fragmenting. The wide divergence of rates between different countries is raising fears that the monetary policy mechanism may be broken.” 

That is correct, but again you do not mention how current bank regulation, with its capital requirements based on perceived risk, fragmented the markets, and is now responsible for the widening of interest gap between those countries officially perceived as absolutely safe and those as “risky”. 

For those regulations, your protégé Mario Draghi is very much responsible, and so before any “audacious gamble”, he would do much better dismantling those really dumb overly-cautious-nanny regulations.