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EU Unveils New 'Super-Regulators'

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The European Union (EU) has unveiled plans for new "super-regulators" across the banking sectors in Europe. The proposals include a European Systemic Risk Board to warn of future risks, and watchdogs over banks and insurers across the EU's 27 nations. BBC reports the EU said it was necessary to prevent another financial crisis, and even suggested deeper reforms. The proposals need the approval of all 27 national governments as well as the European Parliament to take effect.
SOURCE:   BBC

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