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Archive

Simon Turmaine | February 18, 2009

BRUSSELS – Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank (ECB), has made the most overt claim yet for his institution to be given a stronger role in European bank supervision. The ECB was frustrated at not being given the job of supervising banks when it was first set up in Frankfurt in 1998. Jean-Claude Trichet, the bank president, and fellow board members have continued to quietly press the case behind the scenes.

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