European Finance Ministers were very divided on Tuesday 22 January on the proposal of the Romanian Presidency of the Council of the EU to separate the provisions on the new powers of the European Banking Authority (EBA) to combat money laundering from the rest of the reform of the three European financial supervisory authorities (ESA, see EUROPE 11864).
This was supposed to be only a procedural issue, but the discussions, which were somewhat confusing, gave the Presidency a lot of...