July 09, 2012

But at least stop the regulatory disunion of European banks.

Sir, Wolfgang Münchau gives many reasons for “Why we won’t solve the eurozone crisis for 20 years” July 9, among others the difficulties of approving and implementing a banking union. 

That might be so, but, meanwhile, there is no reason to make the crisis worse by feeding the disunion produced by the bank regulators when it applies different capital requirements to European banks when lending to different European banks. Those distortions, they could get rid of over just one weekend.