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European leaders call for banking supervision
Friday - 10/5/2012, 4:05pm EDT
VALLETTA, Malta (AP) - Leaders of five European countries have agreed that the European Union must pave the way towards a single European banking supervision system to be operational by January.
The leaders of France, Italy, Spain, Portugal and Malta said in a statement at the end of their meeting Friday on the sidelines of a wider southern European and northern Africa summit that system should be decided by the end of the year.
The leaders discussed the economic situation in the eurozone before a summit in Brussels on Oct. 18-19.
They reiterated calls for swift implementation of the decisions adopted at a June summit and confirmed their determination to work together to preserve the stability and integrity of the euro area.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)