EU to establish powerful financial authority
The Frankfurt Skyline: The new EU authority will be able to intervene in markets directly if national institutions don't move quickly and decisively enough to avert financial disaster.
September 10, (Der Spiegel) -- Banks in Europe are facing tough new scrutiny from a planned European financial supervisory authority. It would be more powerful and could take action to prevent systemic problems if national authorities did not... The new oversight authorities would be in operation by 2011 . . continue reading.
