Bankers including Jamie Dimon, chief executive officer of JPMorgan Chase& Co. have said that flexible implementation of previous rounds of Basel rules in the European Union has allowed European lenders to hold less capital against some assets compared to their U.S. counterparts.

Answer the following questions providing examples, if necessary:

1.Why do we have to regulate bank capital and should European and US lenders try to weaken Basel III standards?
2.Do you think that the risk can be eliminated by simple business practices, in other words that risk should be managed at the bank level?
3.Do you think that your personal financial security is completely under control by the committee of international experts who meet in Switzerland or are you afraid of another global financial crisis just few years down the road?