The Transatlantic Regulation Rift
European governments have seemingly concluded that hosting large, risky, and volatile financial firms and markets is not worth it, while the US administration still regards the financial sector as a comparative advantage for New York. Which side has made the wiser choice?
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LONDON – US President Donald Trump made his intentions on financial regulation clear from the very start of his administration. He issued an executive order requiring that, for every new regulation imposed, at least two should be targeted for repeal. No such deregulatory zeal is evident in Europe.