If policymakers in Europe can follow through on their commitments to financial integration and structural reforms, among other things, financial stress in Europe should continue to lessen, and European economies should gradually recover from their current slump. If the economy in Europe were to begin to grow again, it could support global economic growth more broadly.
Following on from the most recent enhancements to EU law, such as CRD V and the AML Action Plan, we are working together with the European Commission and the European Banking Authority, which is tasked with developing technical standards and guidelines to enhance and complement the amended regulatory framework.