European ministers ink deal on bank oversight

3:22 AM, Dec 13, 2012   |    comments
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BRUSSELS (AP) -- The European Union has agreed to create a single supervisor of banks for member states.

The decision was reached by finance ministers meeting in Belgium and would be a major step toward one of the most important transfers of financial authority away from national capitals.

The agreement, reached after an all-night session, still needs final approval.

 

Associated Press

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