The proposal to split EU’s biggest banks hit deadlock as Denmark rejected the proposal questioning the value of more regulation.
Bloomberg quoted Denmark’ business minister Henrik Sass Larsen saying, "With all the legislation now in place there really shouldn’t be more worries."
He added that with the regulations put in place, they are fully covered, and more may be deemed as obsolete.
Michel Barnier, the European Union’s financial services chief, had proposed to split systemically important banks that would push certain kinds of derivatives as well as other trading activities into separately capitalized units.
The proposals are subject to approval from national governments and the European Parliament, and talks are set to continue to 2015.
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