The European Banking Union should have been the framework to link the new financial regulation with the goals of stability and economic growth. The current path towards Basel 4 creates instead a stringent trade-off: too many rules, with a high level of complexity, continuosly modified, with a «one-size-fits-all» approach are determining a burden upon European financial institutions, in particular small and medium banks. With heavy consequences fo Europe: not only a larger gap between European and American rules, but also a negative impact on credit and growth
