The Larosière Report sets 36 recommendations for a better integration of European financial services.

The 36 recommendations presented to the European Commission on february, 25 focus on 3 structural lines: - The report recommends also the creation of a systemic risk regulator, "the European Systemic Risk Council". Its role is to harmonise national regulations such as the application of capital requirements, quality of supervision standards or the deposit guarantee scheme. Afterwards, the Council is meant to inform about macro-prudential risks the governements, but also the BIS, the FSF and the IMF. - Transnational financial players should be supervised by three independant and European committees : one for banks, one for insurance companies and one for financial markets.Those three committees would form a strong network and would exchange experience and informations. National banks would still fall under national regulators supervision. - Finally, the Basel II directive should be reviewed in order to increase banks equity and implement stricter accouting rules. Read the Larosière group report (pdf) Group Composition :Leszek Balcerowicz, Poland (bio) Otmar Issing, Germany(bio) Rainer Masera, Italy (bio)Callum Mc Carthy, UK(bio)Lars Nyberg, Sweden(bio)José Pérez, SpainOnno Ruding, The Netherlands (bio)