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Not being part of the eurozone, London is reluctant to give too much oversight power to the ECB (Photo: EUobserver)

EU divided on financial oversight rules

An informal meeting of EU economy and finance ministers in Prague over the weekend highlighted divisions in the bloc when it comes to implementing some of the reforms of the global financial system agreed just days before at the G20 summit in London.

The 27 ministers on Saturday (4 April) reiterated the need to press ahead with recommendations made by a high-level EU panel headed by former International Monetary Fund chief Jacques de La Rosiere calling for a new financial watchdog to pr...

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Not being part of the eurozone, London is reluctant to give too much oversight power to the ECB (Photo: EUobserver)

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