Finance ministers clear way for eurozone reform

EU finance ministers cleared the way on Friday (25 May) for their leaders to move forwards on the deepening of the eurozone.

At a meeting in Brussels, and after late-night discussions to convince the most reluctant countries - like the Netherlands - they agreed on a package to reduce risks in the banking system.

Under the new rules, which now need to be agreed with the European Parliament, eurozone banks will apply international standards on prudential requirements and a common EU...