Deal on ECB to oversight top EZ banks by end 2013

FXstreet.com (Barcelona) - After the agreement among EU finance ministers to allow the ECB to supervise banks in the Euro-zone, a stream of follow-up headlines continues via Reuters, saying that the ECB new supervisory role should be up and running by end of 2013. Decision was unanimous, EU's Commissioner Faull said.

Meanwhile, French Finance Minister Pierre Moscovic notes, via Reuters: "ECB will supervise 3 biggest banks in each country, with the Euro area to have uniform banking rules." He also added that "the ECB supervision is first step to Euro banking union..."

Schaeuble, German FinMin said to Reuters reporters "the EU wants the ECB oversight in full in 2014", with other parallel comments from officials saying ECB supervisor "should help break bank-sovereign link."

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