European banking proposal drawing criticism, NY Times reports

theflyonthewall.com

A proposal from the European Commission president, Jose Manuel Barroso, for the ECB to regulate all of the E.U.'s banks is drawing criticism from key players in Europe, according to The New York Times. Germany's finance ministry said the ECB should only regulate systemically important banks, while some politicians probably won't like Barrosso's call to implement a new treaty among E.U. nations, the newspaper explained.

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