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I would take them to be all the national central banks supervised by the ECB by treaty obligations, all of the banks they supervise and those new institutions responsible for resolving insolvent banks and stabilizing financial conditions in Eurogroup countries.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Mar 3rd, 2015 at 09:58:08 AM EST
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