Eurozone Leaders Agree To Single Banking Regulator

Law360, New York (June 29, 2012, 6:55 PM EDT) -- European Union leaders on Friday agreed to move forward with the creation of a single banking regulator for eurozone countries as part of a package of measures aimed at easing the continent's crippling debt crisis.

European Commission President Jose Manuel Barroso said a single regulator, overseen by the European Central Bank, would be set up by the end of 2012. The creation of a single supervisory agency came as part of an agreement to bypass governments and pump bailout money directly into Spanish, Italian and other...
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