Ministers agree deal on EU banking union

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Series Details 13.12.12
Publication Date 13/12/2012
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The European Union took its first big step towards banking union on the 13 December 2012, as eurozone finance ministers agreed a plan to cede power to a common bank supervisor in Frankfurt.

After almost four months of fraught diplomacy that laid bare deep Franco-German divisions, finance ministers brokered terms for the European Central Bank to begin direct supervision of up to 200 eurozone lenders from early 2014.

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ESO: Background information: EU summit loses sense of urgency
BBC News, 13.12.12: Eurozone agrees ECB banking supervision rules
European Commission: RAPID: MEMO/12/981: Council agreement on the Single Supervisory Mechanism - statement by President Barroso
EurActiv, 13.12.12: Finance ministers clinch banking union deal
Spiegel Online International, 13.12.12: Euro Zone Agrees to Bank Oversight Deal
Council of the European Union: Press Release, PRES/12/528: Council agrees position on bank supervision
France24, 13.12.12: EU nations agree to eurozone banking union
Deutsche Welle, 13.12.12: EU clinches deal ahead of banking union showdown
EUObserver, 14.12.12: EU summit agrees to further steps on bank plans
NRC Handelsblad / Frankfurter Allgemeine Zeitung / El País / ABC, 14.12.12; Banking union flatters Germany’s financial physique (via PressEurop)
Le Monde / Handelsblatt / Diário económico / El País, 13.12: An embryonic banking union (via PressEurop)
European Parliament: Press Release, 16.12.12: Single supervisory mechanism is first step to mutualising risk, says Draghi
EUObserver, 17.12.12: Bundesbank sceptical on EU banking union
Spiegel Online International, 17.12.12: Hidden Risks Plague Euro-Zone Bank Oversight Plan

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