Brussels, 20/07/2011 (Agence Europe) - On Wednesday 20 July, the European Commission unveiled legislation to boost the quality and quantity of capital held by 8,200 banks doing business in Europe (see EUROPE 10420). EU Internal Market Commissioner Michel Barnier said the proposal would have a fundamental impact on the way banks behaved and would reduce the risk of a new financial crisis by 70%. He said the Commission had respected the spirit, letter and ambition of the Basel III Agreement...