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Merkel handing Banking Supervision to Brussels

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German papers are reporting a secret deal of Merkel’s. The Federal Chancellery experts working on the revision of banking supervision have leaked that Angela Merkel will give up her resistance to the takeover of the banking supervision by the EU after the election. The international banks are to be therefore controlled by Brussels. Germany will control only the savings banks and regional banks themselves. This means that Germany loses another piece of sovereignty. (see Deutsche Wirtschafts Nachrichten)