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Instead there will be a slightly messier process, in which there is central determination - by the EBA, in collaboration with national regulators - of how much individual banks need, and then individual countries will decide how the money can and should be injected into their respective banks.
BBC: Will euro banks be saved before meltdown?
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In its defence, the EBA had no power to second-guess national supervisors.
ECONOMIST: Plans for common supervision could easily turn messy
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Although this double-majority voting system for the EBA sounds boringly procedural, it could prove to be very significant.
BBC: Eurozone banking union that works for Britain?
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The EBA came in for fierce criticism last year for its handling of EU-wide bank stress tests.
ECONOMIST: Plans for common supervision could easily turn messy
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It said it would have passed the test if regulators counted a debt-equity hybrid, called "silent participation", as a capital reserve, but the EBA, having initially said it would accept this, then changed its mind.
BBC: Eight banks fail EU stress test with 16 in danger zone