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ECB President Calls for Central Resolution of EU Banks

The criticism of Spain’s handling of the Bankia crisis has prompted a call from Mario Draghi, president of the European Central Bank, that banks which present a risk to the Eurozone financial system should be supervised and resolved by a central authority, rather than by national regulators, the European Banking Authority being an obvious candidate for the role.

There does not seem to be great support for this proposal as of yet, but it will be interesting to see how this conversation develops.

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