Monday, 16 August 2010

Solvency II: An iron fist in a verbose glove

I've been meaning to have a look at the original content of the EU's Solvency II directive, and today I finally got around to downloading it from here. This is an important document: on it apparently rests our best hope of avoiding financial institutions overstretching themselves in ways we don't understand and bringing the rest of the economy down with them. We should all have a grasp of what's in it, certainly those of us in or around the financial sector.

It's going to be a real page-turner, as they say: in fact I'd turned 69 such pages until I finished the table of contents. Good to know the financial crisis is generating employment somewhere.