EU Bank Bailout Plan Could Lead To Central Regulator

Law360, New York (May 30, 2012, 7:12 PM EDT) -- The European Union's executive body on Wednesday said eurozone countries should create a "banking union" that could directly bail out banks crushed by the continent's debt and currency crisis, but such a proposal could end up further eroding regulatory sovereignty for the 17 countries.

As part of a broad report tackling the ongoing fiscal and budgetary crisis on the continent, the European Commission said Wednesday that "ambitious steps to accelerate and deepen financial integration may be needed" in order for the currency to survive debt problems...
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