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EU process stacked against securities finance
20 June 2012
Bertrand Huet warned delegates of the challenge that the industry faces at the Isla conference in Madrid. Alastair O’Dell reports
The EU decision-making process has radically changed since the financial crisis leaving the financial sector without the ability to defend its interests, warned Bertrand Huet, senior vice-president & partner of Fleishman-Hillard, at the International Securities Lending Association conference in Madrid yesterday.
Huet said that decision-making in Europe must be viewed through the prism of three historically significant factors: the huge proportions of the crisis; the impending turning point for the EU’s future; and the high volume of legislation.
He said that the solutions that could solve the crisis are “not necessarily what is politically acceptable”.
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