EU finance ministers have reached a deal on rules for supervising Eurozone banks.

The agreement, reached after around 14 hours of talks, and concluded early Thursday morning (13 December) will see around 200 banks come under the direct control of the European Central Bank (ECB), and is a key step on the path to a full banking union.

Cypriot Finance Minister Vassos Shiarly said that “a Christmas gift” has been given to his country, which holds the EU presidency until the en...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now