“BRUSSELS (Reuters) – Creation of a banking union to help resolve the euro zone debt crisis could lead to a split within the widerEuropean Union, lawmakers in the European Parliament warned during a debate that laid bare the extent of tensions in the bloc.
Brussels proposed earlier this month that the European Central Bank (ECB) take charge of supervising all banks in the euro currency zone, as a first step towards creating a banking union under which euro zone countries would eventually jointly back their lenders.
However, the plan has sparked concerns among the 10 EU countries which do not use the euro that they will be indirectly affected by the ECB’s new supervisory powers and put at a competitive disadvantage, whether they join the scheme or not.”
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