FRANKFURT (MNI) – The following is the text from the European
Central Bank, welcoming the European Commission’s proposal for a single
supervisory mechansism involving the central bank:
ECB WELCOMES COMMISSIONS PROPOSAL FOR A SINGLE SUPERVISORY MECHANISM
The European Central Bank (ECB) welcomes the European Commissions
proposal, which was drawn up in line with the statement issued at the
euro area summit of 29 June 2012, for a Council Regulation establishing
a single supervisory mechanism involving the ECB.
The proposal, which the ECBs Governing Council will formally
assess in detail in a legal opinion, is an important step towards laying
the foundations of a financial market union with the view to ensuring
financial stability in the euro area and the European Union.
[TOPICS: MT$$$$,M$X$$$,M$$EC$]
