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NEW RULES Euro Zone Aims to Create Agency Chris Ratcliffe, Bloomberg / Getty Images

Euro Zone Aims to Create Agency

The euro zone is in the process of creating a new agency to supervise banks within the currency union that would report to the European Central Bank. Germany and other European nations with strong economies see the establishment of one overarching authority as necessary to keep the rest of the bloc in line. The objective, at first, is to get all of the euro-zone countries’ biggest banks regulated and then maybe move on to smaller banks.

July 9, 2012 6:38 AM