A The EU’s role in our financial crisis
By Christopher Booker
Last Updated: 12:01am BST 05/10/2008
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A The EU’s role in our financial crisis
By Christopher Booker
Last Updated: 12:01am BST 05/10/2008
As the Western world’s banking system teeters on the edge of collapse, one
crucial factor in this unprecedented crisis has gone almost entirely unnoticed –
although David Cameron made a veiled reference to it on Tuesday.
At the heart of this catastrophe lies a drastic change made last year to banking
regulations, which has led to the current freezing of the money markets. Without
it, most of the banks that have collapsed, such as Lehman Brothers, might have
survived.
