27/1/2014: Two Reforms, One Conclusion

Two headlines about EU policymaking, one conclusion:

EU audit reform reduced to 'paper tiger' : http://euobserver.com/economic/122815 in which the EU 'reforms' of the rules for financial audits are shown as a 'paper tiger', "unable to break up the dominant position of the world's four biggest audit firms."

EU bonus cap to have little impact on bank pay : http://euobserver.com/economic/122852 in which Fitch explains why "EU's new bank bonus rules are unlikely to have much effect on executive pay".

And the one conclusion is: for fake reforms with no teeth, tune into the EU policymaking post-crisis…