Europe approves bodies to supervise banks

Europe approves bodies to supervise banks

A new financial supervision package has just been approved by the European Parliament.

Under the new deal three new European authorities will be set up to supervise the banking, financial markets, insurance and pensions sectors.

A fourth body will monitor and warn of any build up of risk in the economy.

Fine Gael MEP Sean Kelly has welcomed the deal.

Mr Kelly said: "I think it is very important for the European Union first of all to show it has teeth, and secondly to ensure that the lessons of this recession, and particularly the behaviour of the banks, are learned."

More in this Section

Deliveroo want change in employment law so they can offer riders sick payDeliveroo want change in employment law so they can offer riders sick pay

Stop right now: Tesco removes Mel B advert in UK following Spice Girl’s complaintStop right now: Tesco removes Mel B advert in UK following Spice Girl’s complaint

Uber CEO expresses regret over comments about journalist’s murderUber CEO expresses regret over comments about journalist’s murder

UK economy ‘spluttering’ despite return to growth, say analystsUK economy ‘spluttering’ despite return to growth, say analysts


Lifestyle

The Cosmetify Index reveals the cosmetics companies that are generating the most buzz online – and Dubai-based Huda Kattan has the top spot.Huda Beauty tops the 10 ‘most popular’ beauty brands this year

Read the script of Kya deLongchamps’ kitchen-sink drama to set the scene to make an informed choice when selecting this home essentialTake the plunge: Read this checklist before you splash out on your new kitchen sink

THERE is a reason that us Irish folk are so fond of long-sleeved tops and I will go on the record to say itThe Skin Nerd: That dreaded common issue... chicken skin

WHAT do aerospace engineering and baking have in common? A lot, says scientist and Bake-Off finalist Andrew Smyth, one of the presenters of the family show Baking in Space.The Shape I'm In: Andrew Smyth - Bake-Off finalist

More From The Irish Examiner