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Europe’s Banking Risk Plan Is a Long Shot

"The European Union on Wednesday revealed a long-awaited proposal to reduce the systemic risk posed by big banks, a measure that would bring the bloc’s regulations more closely into line with those of the United States. But it is unlikely to become law anytime soon.

"Presenting the plan at a news conference here, Michel Barnier, the commissioner responsible for overseeing financial services, described it as “the final stone in the structure of our ambitious financial reform.”