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Newsletter February 2010: ECB’s Bini Smaghi raps bankers over new rules

Simon Turmaine | February 17, 2010

A senior European central banker has slammed bankers who seem intent on adapting to proposed new regulations by reducing credit to the economy rather than raising new capital or limiting rewards to shareholders. Lorenzo Bini Smaghi, a European Central bank (ECB) executive board member, described bankers’ claims about the adverse affects of the regulatory proposals as “unjustified.”

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