European Union finance ministers failed to reach an accord yesterday on whether EU bank supervisors should be given the power to impose decisions on governments that risk placing a burden on national budgets and taxpayers.
At a meeting in Luxembourg, opinion was divided between a majority of countries, which think the EU needs tougher pan-European rules to avert future financial turmoil, and a smaller group, led by the UK, which is determined to limit the impact on national fiscal sovereignty.
