EU leaders in the early hours of Friday (19 October) agreed that a eurozone banking supervisor should come into life next year, opening the way for troubled banks to access bailout money directly.
The deal is little more than a reaffirmation of an earlier agreement reached in June.
The EU countries set an "objective" of drafting a legal blueprint for the new structure, which is to be embedded in the European central Bank (ECB), by 1 January 2013 and of launching the body "in the ...
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