Sunday 21 January 2018

Thomas Molloy: Ceding power of Central Bank to EU makes sense

FEW nations understand better than the Irish that the question of who bears ultimate responsibility for a country's banks is a matter of the utmost importance.

German Chancellor Angela Merkel made a significant concession yesterday evening when she said for the first time that a European banking union should be one of Europe's medium-term goals.

Her comments came ahead of private talks yesterday with EU Commission President Jose Manuel Barroso to look at ways of ensuring that systemically important banks can be put under the supervision of a Europe-wide authority.

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