The problem pillars
Banking Day has been pushing for a proper investigation of the four pillars question. Four pillars should be appraised against the options of three or two pillars. Or the option of five or more. This is the UK/EU intervention model.Consolidation is a serious possibility but one which appears politically impossible. It deserves a more dispassionate assessment. However, most voices insist on continuing four pillars and the political tendency will be to leave it there.