Power struggle: EU battles for supervisory convergence

European Commission’s review of the three supervisory authorities fraught with difficulties

A carpenter cannot hope to build a sturdy, functional wardrobe without the appropriate tools to complete the task. Similarly, the three European Supervisory Agencies (ESAs) cannot craft a properly integrated single market without the proper tools in terms of regulatory powers.

On March 21, the European Commission launched a consultation reviewing the three ESAs. The consultation paper touches upon various possible improvements that could be made to the ESAs, including their funding, governance

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