Prime Minister Luc Frieden advocates decentralised supervision opposed to France’s pitch for more centralised supervisory body
Luxembourg's Prime Minister Luc Frieden and French President Emmanuel Macron at an EU summit. © Photo credit: EU
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Luxembourg is due to clash with France at an EU summit this week over a proposal to give more powers to the Paris-based European Securities and Markets Authority, centralising financial supervision as part of a closer banking union.
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