Swedish FSA says EU banking union plans risk being devisive

STOCKHOLM, Oct 10 (Reuters) - Sweden's financial watchdogsaid current proposals for a European banking union could runthe risk of dividing the single market and that supervisionshould be complemented by a system for dealing with failingbanks before it was introduced.

Swedish Financial Supervisory Authority head MartinAndersson said plans for a banking union now on the table riskedcreating a division between members of pact and those whoremained outsiders.

"This would be at odds with what we have been working towardfor so many years, the creation of a single market," he toldreporters on the sidelines of a news conference on Wednesday.

(Reporting by Johan Ahlander)

((Niklas.Pollard@thomsonreuters.com; +46 70721 1110; ReutersMessaging: niklas.pollard.reuters.com@reuters.net))


Related Tags