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Europe's New Leadership Must Get to Work on Establishing a Genuine Banking Union
Completing Europe's banking union is the dominant task facing the European Commission in the financial services area for the next five years. In the short term, the Commission should affirm its leadership by pushing for the creation of a credible EU anti–money laundering supervisory agency. The time is right because Valdis Dombrovskis, a former prime minister of Latvia, will ascend in November as the commission's executive vice president, with a designated portfolio that includes creating "an economy that works for people." That portfolio covers many issues, including economic and monetary affairs and trade, jobs, and ... (full story)