European Union to revamp policing of banks
European Union diplomats agreed on Thursday to set up pan-EU financial watchdogs by the start of next year, to lead a clampdown on the bankers that many blame for the worst recession in a generation.
The trio of new financial sherrifs, to monitor banks, insurance companies and trading on markets, will be complemented by a group attached to the European Central bank that will keep watch for other economic risks like a property price bubble. (Reuters)
