ECB chief stresses importance of Lamfalussy process
Jean-Claude Trichet, president of the European Central Bank (ECB), said the Lamfalussy process should be used as much as possible to meet the challenges of increasing regulatory integration.
The process was set up to speed up the adoption of EU law and to ensure member states’ implementation was consistent. The ECB used Lamfalussy to introduce the Markets in Financial Instruments Directive (MiFID).
Trichet said in a speech to the Economic and Monetary Affairs Committee: “We have always shared the stance that [the Lamfalussy process] should be exploited to the maximum possible extent before considering any far-reaching institutional changes.”
The central bank head said he considered
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