EU reform: the devil’s in the detail

It’s all very well to make grand statements about the need for a new financial supervision framework in Europe, but can the EU work out the practicalities of reform?

Disagreements over the competence and powers of planned financial authorities could delay or derail efforts to set up a new financial supervision structure for the European Union. While only a few months ago politicians and regulators all agreed on the need to move quickly to strengthen Europe’s financial architecture to better avoid future crises, taking practical proposals through the EU’s labyrinthine political process presents a considerable challenge for legislators. Differences in approach