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London is particularly cautious about handing new EU-wide bodies direct supervisory powers (Photo: harshilshah100)

Parliament delays crucial vote on European financial supervision

MEPs have decided to delay a key vote on legislation setting up a new European financial supervisory framework, giving negotiators more time to reduce the policy gap between parliament and member states.

Instead of voting on the overall legislative package on Wednesday (7 July), parliament will adopt a political declaration outlining its position regarding a series of new EU authorities to monitor Europe's banking, insurance and securities sectors.

Negotiators will then continue ...

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London is particularly cautious about handing new EU-wide bodies direct supervisory powers (Photo: harshilshah100)

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