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We need a major overhaul of our banks and banking rules if we are to have a sustainable, stable financial system and economy.More
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14 May 2012, Brussels
Evidence provided by Finance Watch Secretary General, Thierry Philipponnat, at a 29 March 2012 hearing before the High-level Expert Group on possible reforms to the structure of the EU banking sector led by Erkki Liikanen. This paper deals with moral hazard in banking, its implications for the competitive position of European banks and for society. It also proposes solutions to remedy the situation.