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Reg rageOctober 29 2012

How many supervisors does it take to save the eurozone?

Plans for a European banking union may address a perceived missing pillar of monetary union, but they are a very long-term project that threaten to cut across other measures to stabilise the system.
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What is happening?

In September 2012, the European Commission proposed giving powers to the European Central Bank (ECB) to act as a single banking supervisor for the eurozone. This is the first step to a full banking union that would also include a single European rulebook drafted by the European Banking Authority (EBA), a European resolution authority and a harmonised deposit guarantee scheme.

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