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
Crown Prince Mohammed bin Salman is seen as the force behind the king’s decision to change the rules.
Rose Leslie and Kit Harington have married in Aberdeenshire.
Game of Thrones stars Kit Harington and Rose Leslie have tied the knot.