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A central authority with the power to shut down banks - a nice idea in principle but less so in reality, say key member states (Photo: William Murphy)

Next EU summit risks being waste of time, MEPs say

The European Commission on Wednesday (12 June) came under pressure to be a bold policy-maker, as a meeting of EU leaders later this month shapes up to be another damp squib.

Deputies in the European Parliament urged the commission to table far-reaching proposals on banking union - a three-pillared plan seen as key to establishing and maintaining a stable eurozone.

"Exactly the same mistakes are happening again," said Belgian Liberal MEP Guy Verhofstadt about member states getting ...

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A central authority with the power to shut down banks - a nice idea in principle but less so in reality, say key member states (Photo: William Murphy)

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