The EFBS supports the Commission’s view that a necessity for regulating has not been proven so far. With regard to the further impact assessments, EFBS hopes that “the Commission manages to commission consultants who have a better economic understanding than the consultants of London Economics”.
“This study went so far to propose the introduction of a subprime market in the EU following the US example, in order to achieve more economic growth”, EFBS states.
The Federation criticizes the White Paper does not contain any answers on how existing actual barriers could be removed. “In order to achieve a well functioning Single Market as well as product variety for consumers the EFBS has been calling for decades for mutual recognition of products and finance schemes”, EFBS says.
© Graham Bishop
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