European policy-makers are faced with a significant challenge. They need to create a credible and safe environment for the future provision of financial services across the eurozone, while at the same time cleaning up the legacy issue of insolvent banks and fiscally challenged sovereigns. Ideally, this should be done in a consistent and steadfast manner to ensure confidence in the European financial system.
The creation of a single supervisory mechanism under the aegis of the European Central Ba
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