European Union leaders are calling for banks in the euro zone to be supervised by the European Central Bank, a proposal that will be considered when European leaders begin their summit Thursday.
The proposal came from the presidents of the European Council, the European Central Bank, the European Commission and the Eurogroup, which is the regular gathering of euro-zone finance ministers, the Wall Street Journal reported Tuesday.
The EU proposal calls for a deposit insurance program to strengthen credibility of current financial supports.
