The policy briefing 'The New Capital Requirements Directive: what pieces are still missing from the puzzle?' looks at the uncertainty that remains over the legislation even after seven years in production. The European Parliament is still very unhappy over the limited role it will have in the 'comitology' process which is to be carried out under the Lamfalussy procedures. Concrete rules for a role for Parliament fell with the failure of the European constitution and Parliamentary dissatisfaction over this issue and some substantive provisions of the proposal could yet lead to long delays for this troubled directive.
The author of this paper is Rym Ayadi
of the Centre of European Policy Studies