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Bundesbank shares Marta concern
Monday, 21st December 2009
UKIP MEP Marta Andreasen, often the lone voice of opposition on the powerful EU finance committees, has been joined by the German Bundesbank in her criticism of financial supervision.
Bundesbank executive board member Hans Georg Fabritius has been reported in Germany saying the proposed new supervisory powers of the EU are too wide ranging.
Mr Fabitius said he had hoped the "powers and responsibilities of member state authorities had been more clearly defined".
Ms Andreasen said of the supervision proposal: "This is yet another exercise in EU power-grabbing where the scope is wide so as to allow the EU to put its nose into whatever suits it.
"The poor definition of the powers and responsibilities for the authorities in the member states is just a confimration of the EU's real intentions and conforms to the manner in which the EU always gets its way."
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