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Carlos Costa sees the writing on wall at the Bank of Portugal

bopcarloscostaThe Governor of the Bank of Portugal, Carlos Costa, has pre-empted a report into banking supervision by criticising the Ministry of Finance for something that is far from being decided.

Deeply perturbed that his power is being eroded and the he is about to lose much of his supervisory remit, Costa says that attempts have been made to question the independence of central banks. This refers to the current debate over reforms to the supervision of banking, insurance and capital markets.


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