

European Central Bank head argues in favor of global governance - mcantelon
http://blogs.forbes.com/face-to-face/2010/04/29/ecb-president-favors-global-governance/

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hga
The Basil II regulatory monoculture had more than a little to do with the
global nature of the Great Recession, so let's make financial regulation even
more uniform and global!

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waterlesscloud
Yeah, cause the Eurozone is working out so well.

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hga
Yes, that points out the regulatory enforcement issue of this proposal.
Eurozone countries are supposed to have much smaller annual deficits (3.6%?)
than Greece has (or probably ever had in the relevant period). The ECB and
company knew what was happening but turned a blind eye to it.

