Rompuy: ECB could be effective in 2013
European Council President Herman Van Rompuy said the 27 leaders agreed at a Brussels summit to adopt a legal framework by the end of the year giving the European Central Bank overall responsibility for banking supervision.
After almost 10 hours of talks, he told a news conference:
Once this is agreed, the single supervisory mechanism could probably be effectively operational in the course of 2013.
More top news
Richard Taylor on Woolwich suspect Michael Adebowala
Richard Taylor OBE, father of murdered schoolboy Damilola, has spoken to ITV News about how he mentored Woolwich suspect Michael Adebowala.
Family of murdered soldier pays emotional tribute
The family of murdered soldier Lee Rigby paid tribute to him on Friday as detectives continued an investigation into his killing.
British WWII hero Jim Flint celebrates 100th birthday
As Jim Flint, one of WWII's most decorated airmen, celebrated his 100th birthday, ITV News looks back on his incredible life.