In an interview with Die Presse, ECB Executive Board member and Supervisory Board Vice-Chair Frank Elderson argues that the 2008 financial crisis cost far more than bank regulation, and that post-crisis reforms made European banks better capitalised, more liquid and more profitable on average. He says simplification is not deregulation and notes the ECB has already cut reporting obligations and sped up processes. He identifies fragmentation as Europe's biggest competitiveness obstacle, since cross-border banking remains limited, and calls for completing the Single Market, the savings and investments union and the banking union, including a European deposit insurance scheme. He argues simplification and integration must advance together in the European Commission's banking reform package, and that Basel standards keep competition based on efficiency rather than the weakest rules.
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EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 1.12125 |
| Change that session | -0.24% |
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