Estonia cbank, govt clash over draft watchdog bill

The Estonian central bank on Tuesday expressed concern over government approval earlier in the day of a draft bill, aimed at merging the securities, banking and insurance watchdogs into one financial inspectorate from January 2002.

The draft foresees the new body operating as a government body and the bank has already said that could compromise the watchdog's independence. It added on Tuesday it saw problems with the way the bill had been drafted.

"The bill has many inconsistencies which result

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