Unified Eurozone Bank Oversight Will Test ECB Powers

Law360, New York (September 12, 2012, 9:01 PM EDT) -- A European Commission proposal Wednesday to add supervision of eurozone banks to the European Central Bank's portfolio is widely regarded as a vital step to alleviate the continent's debt crisis, but an expert said the central bank will be left scrambling to add staff and draft new regulations at a time when quick action is needed.

Under the plan put forward by the European Commission, the ECB would be charged with setting capital standards for all eurozone banks and making sure that banks comply. The central...
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