UK and Germany in banking supervision move

GERMANY - The German and British governments are combining forces to head off any move by the European Central Bank to take the leading role in banking supervision in the European Union.

In letters made public yesterday, Hans Eichel, German finance minister, and Gordon Brown, his UK counterpart, made clear they wanted ultimate control of banking oversight to remain in the hands of national regulatory authorities.

"We are firmly convinced that the appropriate level for supervision is at the nati

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