Posted on 09/02/2012 6:47:27 PM PDT by Olog-hai
The European Commission plans to give the European Central Bank (ECB) oversight of all banks in the eurozone from 2014, said Michel Barnier, in charge of the internal market at the EU executive.
Under the plans, the ECB will oversee all banks that have tapped the European Stability Mechanism from January next year, Barnier told German newspaper Süddeutsche Zeitung.
All banks relevant to the financial system would be covered from July and all remaining banks from 2014, Barnier further told the paper in an interview.
Countries outside the eurozone can subject their banks to the oversight of the ECB voluntarily, said the commissioner. …
(Excerpt) Read more at euractiv.com ...
EUSSR
Scary is that we have people on this side of the world who want the sae thing for America....the NAFTA/North American Union crowd.
We have already kind of wandered in to that EU_takeover style of banks via TARP
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