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Brussels Pushes for Another “All Powerful” Banking Committee, Headed by ECB, In Spite of Objections by ECB and Germany

by Mike Shedlock
MISH’S Global Economic Trend Analysis

Once nannycrats grab on to an idea, they never relinquish it. Eurobonds are the perfect example. Many other idea float around despite numerous objections in key places. Some of these ideas involve creation of more commissions and more working groups.

Here is a sampling of commissions and groups that I am aware of.

The European Commission is headed by president José Manuel Barroso
The European Council is headed by president Herman Van Rompuy
The Euro Group is headed by president Jean-Claude Juncker
The European parliament president is Martin Schulz
Numerous other committees set policy on trade, energy, and nearly everything else under the sun.

Barroso now wants another new commission, this one under the ECB with the task of being the “all powerful” banking supervisor.

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