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
A similar split set up to today
The Eagles of Death Metal want to be the first to play the Bataclan when it reopens, the lead singer has said in an emotional interview.
Cheap commercial spaceflight took one giant leap closer to reality after Blue Origin successfully landed a rocket - upright - in Texas.