In a debate on the draft European regulation, Financial Secretary Mark Hoban said the plans would "limit the ability of member states to respond to the unique characteristics and risks of their markets and, where necessary, go beyond minimum standards to ensure financial stability in their own jurisdiction".

BBC: EU bank regulation motion

Facebook boss Mark Zuckerberg believes the website should be available to children under the current age limit because the site has "educational benefits".

BBC: Facebook boss responds to criticism

Rigid mark-to-market accounting is similar to a highway that has a speed limit and a speed minimum.

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