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European Financial Services Proposals

Part of Oral Answers to Questions — Foreign and Commonwealth Office – in the House of Commons at 6:37 pm on 1st December 2009.

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Photo of Mark Hoban Mark Hoban Shadow Minister (Treasury) 6:37 pm, 1st December 2009

The Minister makes that assertion, but it is possible for the ESAs to override national supervisors to make decisions that impact on fiscal responsibility, and that member states then have to appeal against. Clearly the Government's red line is not being respected in this area.

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