Enrico Letta, one of the champions of the EU’s competitiveness bent, is floating a structure for making central supervisory authorities for financial services more palatable to Ireland. Talking points around the Savings and Investment Union (SIU) – a measure to harmonise the EU’s financial frameworks – have bubbled up in recent weeks with Tánaiste Simon Harris backing efforts to get retail investors’ and savers’ money flowing into investments, and to ultimately fund SMEs. Traditionally, Ireland has been broadly supportive of integrating Europe’s capital markets and of an investment union but it has been sceptical of centralising supervisory powers into one…

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