• The European Parliament has called on the European Commission to take action on the commitments given at the G20 Summit. The Parliament, on adopting a resolution on the Pittsburgh meeting, said that Europe needs a stronger supervisory architecture for its financial services industry and added that the end-goal should be “a single financial supervisory authority”. The resolution also urged the European Commission to act on the commitments on bonuses at the G20 Summit by including it in EU legislation and it said all G20 leaders should give “more teeth” to proposals for building capital and reforming compensation practices.
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