Deal on EU-wide financial supervisors agreed

The European Commission, the European Parliament and the EU member states last night reached a political a deal to create the new supervisory bodies. Officials involved in the deal say the super-structure will have the resources to identify financial risks, the tools to better control financial players and the means to act fast in a co-ordinated way. The agreement brings an end to fights between member states, particularly Britain, who feared a loss of sovereignty over financial regulation, and a European Parliament concerned about weak agencies ability to correct dangers ahead. A ...