EU regulators to get more powers for fiscal scrutiny

European Union regulators in Brussels would gain additional powers to seek banking data and order financial- system stress tests under draft legislation to tighten control over budgets in the 17-nation euro region.

The measure is part of a two-pronged budget oversight proposal that the finance ministers of all 27 EU nations are slated to discuss tomorrow at a meeting in Brussels.

Denmark, which holds the EU’s rotating presidency, aims to reach a preliminary agreement as a basis for negotiations with the European Parliament.