One of the European Central Bank’s senior supervisors has warned that eurozone authorities lack many of the powers needed to deal with re-emerging financial risks. 

European authorities also lacked powers to deal with emerging risks, Ignazio Angeloni told an audience in London on December 10. “As a result, the macro-prudential response of the euro area in the current economic upswing has been, so far, insufficient,” he said.

Angeloni said the ECB has “made little use of its macro-prudential