Again, to gain perspective, we should compare these estimates with the overall rate of job displacement in the United States. Two hundred thousand jobs per year amount to a bit more than 1 percent of the 15 million or so jobs that are lost each year in the U.S. economy for all reasons.
In this respect, the tradition for cooperation is less well-established than among the Nordic countries. It may therefore be necessary to rethink the EU legislation so that the individual member states are still empowered to safeguard financial stability – even with the presence of large foreign branches whose operations may have an impact on the financial system.