European Council Confirms EU Members’ Equal Vote in Banking Supervision

European Council Confirms EU Members’ Equal Vote in Banking Supervision

The European Council confirmed the EU Economic and Financial Affairs Council (ECOFIN) decision that EU member states will have an equally decisive vote in banking supervision, prime minister Boiko Borisov said.

"The banking union is undoubtedly bringing discipline since the ECB will be able to control over 6,000 banks in Europe and since the countries outside the euro area too will have the same vote as big states, state-run Bulgarian News Agency (BTA) quoted Borisov as saying.

Borisov described the decision as a guarantee for growth in the next ten years.


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