U.K. Chancellor of the Exchequer Alistair Darling's push to limit the powers of new European financial supervisors was rebuffed Wednesday by the region's finance ministers.

Under the terms of an agreement in Brussels Wednesday, a government can only oppose an order from regulators if it gathers a blocking majority among the 27 European Union states. Darling arrived in Brussels a day earlier saying the burden should be on the regulators to seek a supporting majority from EU members before making an order.

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