Don't miss

Replay


LATEST SHOWS

TALKING EUROPE

Greece’s minister of tourism: ‘Tourism is a government priority’

Read more

TALKING EUROPE

Terrorism, strike actions and migrant crisis: Is the EU becoming less attractive to tourists?

Read more

FOCUS

FRANCE 24 exclusive: The last stand for Libya’s Oil Crescent

Read more

BUSINESS DAILY

Moody's cuts Turkey's credit rating to junk

Read more

IN THE PAPERS

‘Grozny 1999 – Aleppo 2016’

Read more

IN THE PAPERS

Trump and Clinton: 'It's all to play for'

Read more

THE INTERVIEW

Turkish foreign minister says troops to move further into Syria

Read more

EYE ON AFRICA

Court ruling expected on Gabon's contested election results

Read more

MEDIAWATCH

Clinton's comedy turn

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)