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The German Bundestag will have a say each step of the way when setting up the banking union (Photo: BriYYZ)

Analysis

Germany out on top after late-night summit

EU leaders left Brussels Friday (19 October) after having spent the best part of the meeting tweaking wording on a banking union that was supposed to have been clear in June.

They went back to their hotels at a bleary-eyed 3am on Friday. But for all the lengthiness, the end result was practically the same for Berlin - the European banking supervisor will not be up and running any time soon.

The issue is key. Without the supervisor, the eurozone bailout fund will not be allowed to ...

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The German Bundestag will have a say each step of the way when setting up the banking union (Photo: BriYYZ)

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