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U.S. Fed's Dudley urges Europe banking union, warns on economy
April 22, 2013 / 1:03 PM / 4 years ago

U.S. Fed's Dudley urges Europe banking union, warns on economy

NEW YORK, April 22 (Reuters) - Establishing a pan-European banking union is a “critically important next step” to stabilizing that region’s troubled economy, the influential head of the Federal Reserve Bank of New York said on Monday.

William Dudley, addressing a conference on transatlantic economic interdependence, said Europe’s economic outlook “seems less bright,” adding that support for fiscal and structural changes could further erode if economic growth does not “resume relatively soon.”

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