BERLIN (Reuters) – Some European banks’ problems with bad loans are not signs of a new financial crisis but are rather remnants of the crisis of 2008, European Commission Vice President Valdis Dombrovskis said on Thursday.
Commenting on deregulation of the financial sector in the United States, Dombrovskis said it would be good if the current global financial architecture was preserved.
“It must be pointed out that our financial markets are closely interlinked,” he said at a banking conference.
If U.S. regulation diverged from the global system, it would put Europe under pressure to act.
(Reporting by Gernot Heller; Writing by Maria Sheahan; Editing by Madeline Chambers)