More Powers For ECB: Europe Finally Has A Central Banking Authority

December 13, 2012 3:15 pm

Well, this could actually be the solution to Europe’s financial crisis – we spotted this today:

“Europe clinched a deal on Thursday to give the European Central Bank new powers to supervise euro zone banks from 2014, embarking on the first step in a new phase of closer integration to help underpin the euro.After more than 14 hours of talks and following months of tortuous negotiations, finance ministers from the European Union’s 27 countries agreed to hand the ECB the authority to directly police at least 150 of the euro zone’s biggest banks and intervene in smaller banks at the first sign of trouble.”

Source: Reuters via DailyFinance

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