Last month, a crack squad of seven regulatory experts published a review of Europe's new bank capital rules, identifying more than 80 points on which they diverge from the internationally agreed standards in Basel III. At the end of the document is a section described, a bit misleadingly, as a "list of issues that the EU intends to address". It consists of a single item.
Put politely, it looks like a stand-off. Explaining themselves earlier in the document, European authorities argue the assesso