Stop the Press, EU Regulations are Expensive

In what could be described as a Regulators Civil War, The Financial Services Authority is claiming that new EU rules will have a huge cost for the finance sector.

The UK's Financial Services Authority (FSA) has blasted the EU for imposing complicated regulations that could land European banks with a €1bn technology bill.

As usual the proposed benefits are vaguely worded platitudes, whilst the costs are real hard cold cash.