German objections threaten to derail eurozone banking supervisor

12/4/2012 | Financial Times (tiered subscription model) · Reuters

Prospects for a single eurozone banking supervisor under the European Central Bank were cast into doubt Tuesday as German and French finance ministers split on the issue. Germany's Wolfgang Schaeuble objected that "the right of the last decision cannot be left to the ECB Governing Council." Tuesday's eruption comes just a week ahead of a summit of EU leaders and suggests that any move in this direction is likely to be delayed.

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Financial Times (tiered subscription model) · Reuters

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