BRUSSELS: Britain is pushing for changes to a proposed eurozone banking union to dilute the power of the European Central Bank (ECB), European Union (EU) officials said, potentially hampering efforts to build the infrastructure urgently needed to underpin the euro.
Last month, the European Commission proposed making the ECB responsible for supervising lenders as a step towards a banking union where chiefly eurozone countries would jointly tackle problem banks and shield savers' deposits.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!