Czechs unconvinced by EC regulatory revamp


The European Commission's proposal for European financial supervision suffers from fundamental shortcomings, the Czech National Bank said on Wednesday.

The central bank noted in a position paper submitted to the European Commission a detailed legislative framework had yet to be worked out and that the commission did not plan to issue one until autumn. The central bank regarded this as insufficient, saying that decision-making on such extensive changes to the European supervisory structure

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