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(CEP News) - European Central Bank Governing Council member Lorenzo Bini Smaghi said in a speech today that the euro zone might need unified regulation and supervision.
Speaking in a panel discussion on the European Central Bank at a conference organized by the Peterson Institute for International Economics in Washington, D.C., Bini Smaghi addressed the current turmoil and potential solutions. "Either a strong response is provided to the challenges posed by the current turmoil to the single financial market within the existing institutional framework, or the framework itself will be changed in favour of a more centralised system of supervision and crisis resolution," he said. By Steve Stecyk,
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, edited by Sarah Sussman,
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