EU's Barnier scrutinises Volcker rule proposal

02/23/2012 | MarketWatch · Bloomberg

Michel Barnier, the European Commission's internal markets and services commissioner, told participants at a US Chamber of Commerce event of his concerns that the proposed Volcker rule could hinder countries' ability to sell bonds. "It would not be acceptable that US rules have such a wide effect on other nations and foreign capital markets without any international coordination," Barnier said. "I do question the approach in terms of application of the [Volcker] rule chosen by the US Congress and US financial regulations."

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