EU may curb central banks on cross-border deals

EU internal market commissioner Charlie McCreevy wants to curb the power of central banks and national financial supervisory authorities to intervene arbitrarily in cross-border deals, the Financial Times reported Wednesday 6 September.

The paper said McCreevy will present a proposal to tighten the current European banking directive at next week's meeting of the European Commission.

"We are ready to table a proposal to change the banking directive," a spokesman for the commissioner is quoted as

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