New regulation compromise sees state power over EU
European finance ministers agreed appeals procedures that will see three new regulators, including one for insurers, set up, the FT reports.
Each member state, rather than the European Commission, will decide whether and individual situation is a "crisis" or not. And finance ministers will decide by simple majority whether to revoke a decision.
The Guardian reported that chancellor Alistair Darling was satisfied with the deal. "There is effectively a veto," said Darling.
Websites
