Obstacles to reform

Grand statements have been made about the need for a new financial supervision framework in Europe, but can the European Union work out the practicalities of reform? Patrick Blum reports

Disagreements over the competence and powers of planned financial authorities could delay or derail efforts to set up a new financial supervision structure for the European Union. While only a few months ago politicians and regulators agreed on the need to move quickly to strengthen Europe’s financial architecture to better avoid future crises, taking practical proposals through the EU’s