Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Candidates Goodluck Jonathan and Mohamudu Buhari call for calm

Read more

MEDIAWATCH

Anger at mental health stigmatisation after crash allegations

Read more

THE WORLD THIS WEEK

Yemen, the Escalation; France's Three Way Race; Clarkson Shown the Exit (part 2)

Read more

THE WORLD THIS WEEK

Germanwings Crash; Co-pilot 'hid illness' on crash day (part 1)

Read more

#THE 51%

The extraordinary tale of the Egyptian mother who lived as a man

Read more

REPORTERS

Video: San Cristobal, Venezuela's tinderbox

Read more

FRANCE IN FOCUS

France's chronic umemployment problem

Read more

FOCUS

Portugal: Anger at corruption scandals, one year after bailout

Read more

YOU ARE HERE

Bistronomy: Stylish and simple eating

Read more

Europe

EU leaders agree to greater banking oversight

Latest update : 2012-10-19

EU leaders at a Brussels summit agreed Thursday to create a single mechanism for overseeing eurozone banks that will be rolled out during 2013, according to diplomats. France and Germany had been at odds over the issue leading up to the meeting.

German diplomats say leaders meeting in Brussels have reached agreement on creating a powerful single supervisor for eurozone banks and the plan will be implemented at some point next year.

France and Germany have been tussling over how to best shore up Europe's struggling banks. France wanted a single supervisor in place by the end of this year - because that would allow Europe's bailout fund to directly loan money to banks, a key tool in fighting the crisis.

But Germany has been dragging its heels because it's nervous about such loans.

The diplomats said leaders reached agreement Thursday night to draw up the legal basis for the supervisor by the end of this year. They will then put it into place sometime in 2013.

(AP)

 

Date created : 2012-10-18

  • EUROZONE

    France, Germany clash threatens EU summit

    Read more

  • EUROZONE

    Eurozone 'very near' to end of crisis, says Hollande

    Read more

  • EUROZONE

    Eurozone unlocks €500 billion war chest

    Read more

COMMENT(S)