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Disagreement between France and Germany over the scope of the ECB's future supervisory powers...

  • Wednesday, December 5, 2012, 4:57 AM ET
    Disagreement between France and Germany over the scope of the ECB's future supervisory powers yesterday prevented eurozone finance ministers from reaching a deal on a banking union. France wants the central bank to regulate all financial institutions while Germany wants to exclude smaller banks. The finmins will go at it again next Wednesday, ahead of an EU summit a day later.
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    The debate is about the quantity of collectivism and concentration of wealth, power and continental resource allocation; not about its quality.

    Both Germany and France agree that statism; coercion and oligarchy should be the defining model for Europe
    5 Dec 2012, 05:28 AM Reply Like
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