Leading policymakers and European politicians on Wednesday showed hints of the tensions between them in setting the limits of the new European macroprudential supervisor's powers.

Axel Weber, the president of the Bundesbank, said the authority of European Systemic Risk Board (ESRB), approved last Wednesday by the continent's lawmakers after a year of negotiations, should not override national discretion. "A single rulebook does not mean uniform rules regardless of national circumstance," Weber