EU financial services commissioner Maria Luis Albuquerque rejected the banking industry's request to split the overall reform plan to boost the EU's financial system into two stages. In an interview, she said that for Europe, the best practice is to adopt a unified reform plan to cut red tape, lower barriers to cross-border operations, and relax some regulatory requirements.

EU financial services commissioner Maria Luis Albuquerque rejected the banking industry's request to split the overall reform plan to boost the EU's financial system into two stages. In an interview, she said that for Europe, the best practice is to adopt a unified reform plan to cut red tape, lower barriers to cross-border operations, and relax some regulatory requirements.