EACT Press Release – 7th November 2011

EACT highlights European Union’s failure to consider real economy impact of financial regulatory proposals.

The European Association of Corporate Treasurers (EACT) has sent an open letter to the Commissioners of the European Union, expressing grave concern over how in its development of financial regulatory proposals Brussels takes account of their impact on employment, growth and stability in the real economy.

The letter has been signed by 188 European companies and its release follows that of a similar letter in January 2010, in which the EACT highlighted to the European Commission that the proposals then being made for the regulation of derivatives had serious adverse unintended consequences for the legitimate use of those derivatives to manage risk in the real economy.  That letter was instrumental in ensuring that the final proposals made by the Commission included a regulatory exemption for such activity.

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