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France Breaking News: Germany, France Split Over EU Banks Plan

Wochit 1:08 mins

Germany and France were split over European Union plans for a new agency to wind down troubled banks, with Berlin saying they go too far in centralizing control in Brussels. The body would form part of a banking union designed to underpin confidence in the euro zone and end the previously chaotic handling of cross-border bank collapses. But German Finance Minister Wolfgang Schaeuble said in a letter to the EU official in charge of the plans that the European Commission is trying to pocket too much power France needs to beef up its methods for fighting tax evasion, according to a parliamentary report on a tax probe into HSBC that revealed $5 billion of undeclared assets across thousands of accounts. Eva Longoria and new boyfriend Ernesto Aruello were spotted leaving the Four Seasons Hotel in Paris. The lovebirds were dressed down in casual whites and grays, ready to take a stroll through the romantic city.

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