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Commission President Jose Barroso will today unveil an EU bank union package (Photo: consilium.europa.eu)

ECB to become bank union supremo

The European Central Bank will supervise Europe’s biggest banks from mid-2013, according to the controversial banking union proposals to be announced Wednesday (12 September) by the European Commission.

Under the plans, the ECB will assume supervisory control over the eurozone’s most systemically important banks from July 2013, before covering all other banks from January 2014.

The proposals, which will be formally unveiled by Commission President Jose Manuel Barroso in his state ...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Commission President Jose Barroso will today unveil an EU bank union package (Photo: consilium.europa.eu)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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