EBRD Aims To Open Planned Banking Union Outside Eurozone

Law360, New York (November 7, 2012, 7:21 PM EST) -- The European Bank for Reconstruction and Development on Wednesday called for a proposed banking union and related bailout fund to be fully opened to European countries beyond the so-called eurozone, arguing that banks in emerging countries would otherwise be unfairly disadvantaged.

According to an annual report released by the bank, the European Union’s proposal for a banking union overseen by a single banking regulator under the auspices of the European Central Bank, with harmonized rules across the eurozone — a group of 17 EU members that...
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