EU member states hammered out a compromise deal on Wednesday (2 December) that will see three new European supervisory authorities watch over the region's financial sector.
In a bid for greater pan-European oversight, authorities in the banking, insurance and securities sectors will be set up in London, Paris and Frankfurt.
The decision – coming after five hours of laborious negotiation – is an important part of the EU's response to the financial crisis that saw the region plung...
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