EU ministers have agreed on a framework for improving financial supervision but the 27 member states remain split over what powers new regulators should have.The financial crisis exposed gaps in cross-border supervision, which meant institutional problems in one country had a knock-on effect on neighbours. But next week EU leaders will have to consider how much power they want new EU-wide supervisory bodies to have. The UK is wary of EU regulators encroaching on the City of London.
EU ministers have agreed on a framework for improving financial supervision but the 27 member states remain split over what powers new regulators should have.
The financial crisis exposed gaps in cross-border supervision, which meant institutional problems in one country had a knock-on effect on neighbours.
But next week EU leaders will have to consider how much power they want new EU-wide supervisory bodies to have.
The UK is wary of EU regulators encroaching on the City of London.
