Banks: Supervisor to the rescue
17 December 2012
“Everything in order?!”
On the building: "Banks"
On the megaphone: "Supervision"
On the truck: "ECB"
At the summit on December 13 and 14, the 27 member states agreed a system of banking supervision.
This embryonic banking union is responsible for only 150-200 of the EU's 6,000 banks mainly because Germany was keen to avoid its regional banks – which are highly exposed to toxic debts – coming under the secutiny of the new banking supervisor.