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bank regulations

Borg criticises UK as EU meeting fails

Published torsdag 3 maj 2012 kl 15.47

Despite a marathon meeting in Brussels on Wednesday night, the European Union's finance ministers failed to reach an agreement - and Sweden's Anders Borg says this is partly the fault of Britain, which came with new demands late into the negotiations.

The meting was to agree new rules, making banks more stable by having more funds to fall back on.

But the Swedish finance minister says that this Nordic nation has already won a key demand - that Sweden can tell its banks to have much bigger reserves of capital: 12 percent, as opposed to the EU current minimum of 7 percent.

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