Germany, France at odds over EU bank supervisor
He advocates supervision of all 6,000 institutions that have a banking license in the EU. In the end it must be the ECB that has the responsibility on the whole. Otherwise, there is no real system of banking supervision, he said.
The banking sector has been seen as a prime cause of Europe's three-year crisis and agreement to fix it as an essential part to avoid a recurrence. Not only have banks taken on bad investments, but national supervisors have often been reluctant to impose restructuring plans on them.
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