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December 10, 2012

Debate rages on eurozone banks supervisor

“It has no direct experience of supervision, no dedicated staff for the job, and faces outright hostility from some of its putative charges. Other than that, the European Central Bank is ideally placed to take over the supervision of 6,000 banks in the eurozone.

 

The establishment of a single supervisor for the currency union’s banks has been widely greeted as a sound idea as a first step towards a “banking union” that could prevent a repeat of the vicious downward spiral in which banks and sovereigns have found themselves embraced during Europe’s debt crisis.

 

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Read full FT article here
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