Anders Borg

Borg Backs New EU Finance Watchdog

Sweden’s Finance Minister Anders Borg joined his EU counterparts in Prague on Saturday in calling for the creation of a new EU backed authority to monitor financial stability leading to far reaching changes in the union’s financial regulatory system.

It’s not clear however how far governments will agree to give up power over how banks are governed.

Anders Borg said after the meeting that the 27 ministers had made a step forward and Sweden during its presidency of the EU would drive through details on how Europe should deal with threats to financial stability.

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