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Fri 06 Jun 2009European Union backs new banking rules
European Union leaders will agree more steps today to avert a repeat of the banking crisis that has sapped the world economy and the IMF said 2010 might deliver stronger growth than earlier forecast.
The EU summit in Brussels will back the creation of a cross-border system of bank supervisors, a draft text showed, after talks yesterday alleviated British fears that the new pan-EU bodies could undermine the power of its national regulators to guide its financial service sector.
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