Unsettling Proposal
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The creation of a centralized platform to handle the settlement of all securities transactions in Europe sounds like a well-intentioned plan. The problem is that the 27 member states of the European Union already have their own settlement providers whose business could be threatened by the proposal. The European Central Bank (ECB), which devised the idea, has come under fire since it first made its plans known last summer. Now ECB officials say that a final decision is unlikely to be made until
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