Financial supervision training for EU candidates
(FRANKFURT) - The European Central Bank said on Tuesday it will set up a two-year programme to train financial watchdogs in the western Balkans and Turkey as they pursue EU membership.
The programme, a joint exercise with the European Commission, aims "to strengthen macro and micro-prudential supervision in the Western Balkans and in Turkey," an ECB statement said.
The announcement came as the Commission prepared to respond to a Greek crisis plan aimed at curbing massive debt and deficits that shocked markets after official data proved to be highly inaccurate.
The programme is to begin on February 2, last two years and cost 2.6 million euros (3.8 million dollars), the ECB added.
Central banks and supervisory authorities in Croatia, the former Yugoslav Republic of Macedonia, Albania, Bosnia and Herzegovina, Montenegro, Turkey, Serbia, and Kosovo will benefit from the programme.
Turkey's bid to join the European Union is backed by some EU states, while others have called for Ankara to be offered a lesser "privileged partnership" relationship. Turkey began EU accession talks in 2005.
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