Final deal on Basel III implementation eludes EU officials

Michel Barnier, internal-market commissioner for the EU, said the UK refused to support a compromise agreement to implement Basel III capital and liquidity rules for banks. However, UK officials said only some technical issues need to be resolved. Margrethe Vestager, deputy prime minister of Denmark and chairwoman of the meeting, said "huge progress" was made and a deal is likely at another meeting this month.

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