Systemic Risk Board must not force national spending
City minister Lord Myners told the Treasury committee that the UK will veto the European Systemic Risk Board if it can force governments to spend money, the FT reports.
"There can be no interventions that have fiscal consequences for individual nations," Lord Myners said.
The UK is "broadly in favour" of the proposals, but fears the rules lack safeguards against EU interference in national financial affairs.
Europe will ammend rules
The UK and its allies believe they will to convince the European Council to amend the legislation.
MPs said there were concerns about a section of the draft that allows the European Commission to act unilaterally to declare that a situation is an emergency, Lord Myners said.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
