ASSESSMENTS

EU: Overhauling the Financial Regulatory System

Jun 10, 2009 | 19:16 GMT

Leon Neal/AFP/Getty Images

Summary

The European Union concurred June 9 to form two financial regulatory commissions called the European Systemic Risk Board and the European System of Financial Supervisors. The European Union has not decided how much power these regulatory bodies will have, and determining the amount of power will likely be challenged by eurozone members in Central Europe and the United Kingdom.

EU finance ministers decided to create new institutions that will provide financial regulatory oversight for Europe....

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