Deregulation could lead to further crisis – Lautenschläger
ECB supervisor worried by politicians’ calls for regulatory loosening
A further wave of financial deregulation risks setting off another round of financial crises, Sabine Lautenschläger told an audience in Dublin today (March 13).
Financial history “seems to follow an eternal cycle”, the vice-chair of the supervisory board of the European Central Bank said. “A crisis happens and the rules are tightened”, but once people had forgotten the crisis, “the rules are loosened”. This, she argued, “leads to the next crisis, which takes everyone by surprise”.
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