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But this is an area where cumbersome regulation can hold them back.
He argues that the proposal is a muddled compromise that will create cumbersome regulation and more bureaucracy.
"We're working with people who we have to engage with, rather than simply having a top-down approach of cumbersome regulation, which hasn't worked to this day.
Southern economies with cumbersome regulation, poor administration, overreliance on tiny family businesses and an over-protected labour force are bad at this.
Less cumbersome regulation already helps London outdistance its chief European rivals, Paris and Frankfurt, as an attractive place for banks and securities firms to do business, and anything that makes the business more efficient should help London retain its lead.
And the chances are bank problems will always coincide with economic weakness.Other solutions would require cumbersome regulation, whether they involve adjusting bankers' pay packages or bringing back a new version of Glass-Steagall.
Similar(48)
They deferred to layered and cumbersome regulations rather than the fundamentals of safety.
It has an aging and shrinking population and cumbersome regulations that make the economy inefficient.
Previous efforts to rebuild the city's oceanfront were hindered by local politics, community opposition and cumbersome regulations.
This week, his administration again reiterated its pledge to rid the government of cumbersome regulations it contends are strangling business.
He promises to lower taxes, cut wasteful government spending and get rid of cumbersome regulations, especially those on the environment.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com