EC proposes cross-border crisis measures

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BRUSSELS – The European Commission is inviting views from governments and the financial industry on a range of possible measures to manage cross-border banking crises.

"The recent crisis has exposed the EU's lack of effective crisis management for cross-border financial institutions," the Commission says in the introduction to a paper outlining its proposals. It says there is need for "a fundamental reform of the regulation and supervision of the financial markets to address the failings exposed

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