Economics

Parliament approves EU single banking supervisor

European lawmakers Thursday agreed the first step in an ambitious EU banking union plan, by transferring the power to supervise the eurozone's biggest banks to the ECB in a year.

12.09.2013

(AFP) European lawmakers Thursday agreed the first step in an ambitious EU banking union plan, by transferring the power to supervise the eurozone's biggest banks to the ECB in a year.

Formal agreement to make the European Central Bank the "single supervisor" for big banks was agreed by 556 votes in favour and 54 against.