The ears of Michel Barnier, European Commissioner – French – in charge of Financial Services, had whistled Thursday morning. Jean-Pierre Jouyet, the president of the Financial Markets Authority (AMF), which held its annual interviews, did not mince words in criticizing his proposed reform of the financial markets in Europe. "The responses of this text do not match" issues, said Jean-Pierre Jouyet who fears that "to continue the movement toward more opaque."
The European Union last month presented a draft revision of MiFID came into force in 2007, which led to a proliferation of trading platforms, which make more complex markets work and the work of monitoring their police.Today, "it replays the same scene!" Complained Jean-Pierre Jouyet.
The tackle of the President of the MFA vis-à-vis Brussels has earned strong support from representatives of the Paris present yesterday morning, as Mestrallet (GDF Suez CEO and president of Europlace), Dominique Cerutti ( Nyse Euronext number two) but Ramon Fernandez, director of the Treasury. But on this subject as on others, the good alignment between gendarmes and police positions in finance in France lack relay abroad. But "it is here that we must share our ideas," Ramon Fernandez fell Thursday. "It's the G20 that plays the game."
Credit Risk
Global or European scale, several parties have just recently lost by France. The recapitalization of the banks decided at the Brussels summit of 27 October had not favored by Paris.
