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.
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The former BBC journalist will also present a new political programme 'Peston on Sunday'.
Patients needing orthopaedic surgery in Wales will be asked to lose weight and give up smoking as NHS struggles to cope with waiting lists.
Heavy showery rain will continue to push northeastwards across the north of Britain during the rest of today.