Reuters: Regulatory News: U.S. Fed's Dudley urges Europe banking union, warns on economy

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U.S. Fed's Dudley urges Europe banking union, warns on economy Apr 22nd 2013, 13:01 NEW YORK, April 22 | Mon Apr 22, 2013 9:01am EDT 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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