Different countries have different agendas. If I benefit from the system the way it is, then of course I wouldn’t want to give in to the rules proposed by the European Commission. The banks have certain vested interests and will obviously therefore try to influence the finance ministry in their country.
Then of course the different countries cannot come to an agreement when it comes to negotiating at a European level. In the case of structural reform for the banking sector, they could not reach an agreement and this is why they sort of abandoned it. It is kind of depressing that nothing has changed structurally because the countries couldn’t reach an agreement because of too many vested interests.
Answered by: a German Bank Official
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