European Finance: Three Musketeers to the Rescue?
Pierre-Henri Thomas, Le Soir (in French) | September 10, 2010
Last Tuesday, Europe’s finance ministers bestowed upon three offices the heavy charge “of defending the integrity of the European financial system, much like the Queen’s three musketeers.” ++ A fourth musketeer was created in the form of a European committee on systemic risk, a type of new d’Artagnan. ++ However, the competencies of these new authorities are not far-reaching enough “to intervene effectively in any one country.” ++ Moreover, their structural setup precludes rapid and unencumbered decision making.
