EFBS welcomes the safeguard measures proposed in the Liikanen Group report

02 October 2012

The European Federation of Building Societies welcomes the report of the Liikanen Group which suggests that a safeguard mechanism be adopted to protect savers from the consequences of bad speculations.

“When someone practises high-risk business activities one cannot expect that savers pay the bill", Managing Director Andreas J Zehnder explains.

The risk and the responsibility should go together. And both should not be [borne] by all the EU Member States together. To get there, practical solutions need to be developed. The building societies as institutions regulated by specialised laws would be able to give guidance.

© EFBS