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Standing up to Chinese regulators' stance on censorship "may have bought Google an unbelievable amount of good will with regulators across the globe," which is "hard to quantify," he insists, adding that "Google will be back in China somewhere down the road" though exactly how remains to be seen.
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The regulator's stance effectively killed any potential deal, since Barclays would be unable to get the votes so quickly.
"The banking regulator is applying an interpretation of the law in Cumplo's case that is unnecessarily strict," says Juan Andrés Fontaine, a former economy minister.Some see in the regulator's stance an attempt to shield a cosy industry from the chill winds of competition.
The party said it was "deeply disappointed" at the regulator's stance.
The latest developments are an unexpected twist that underscore the banking regulators' increasingly aggressive stance toward Wall Street misdeeds.
"What would be a bigger threat to Google is if regulators changed their stance about how it uses data, for instance telling it that it can no longer collect information about browsing habits," he said.
The regulator changed its stance in late 2006, but that was too late for many buyers.
But late Wednesday, a key committee of the Financial Services Agency, Japan's top financial regulator, softened that stance, suggesting that the loan concern be allowed to use taxpayer money to buy loans at higher prices.
In light of that, its regulators took a tougher stance on subprime mortgages.
But the decision by the European panel has increased pressure on Irish regulators to toughen their stance.
Half of the European Union countries could match the United States in broadband use by 2010, Ms. Reding said, if regulators take a tough stance to pry markets open.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com