January 23, 2012 / 10:58 AM / 7 years ago

EU's Barnier says will stick to bank capital plan

LONDON (Reuters) - Michel Barnier, European Commissioner in charge of financial regulation, said on Monday that he would stick strictly to a timetable already agreed for implementing stricter Basel III bank capital requirements.

European Union's Internal Market Commissioner Michel Barnier addresses a news conference, on the modernisation of EU Public Procurement Policy, in Brussels December 20, 2011. REUTERS/Thierry Roge

Barnier, who was visiting London to see British Finance Minister George Osborne and representatives from its financial centre, made his remarks after a newspaper report suggested France and Germany were pushing for a delay.

He also said that he would publish a draft law outlining a new regime to manage cross-border banks in crisis within the next few weeks and added that no country would be forced to accept a financial transaction tax.

Reporting by Huw Jones

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