Europe: a single banking supervisory mechanism - Commission proposals due on September 12

Yesterday the Guardian website published a short article by the President of the European Commission, José Manuel Barroso, in which it was stated that the Commission's proposal for a single banking supervisory mechanism would be published on September 12 (a day later than originally stated): see here. Mr Barroso provided an overview of the proposed mechanism, which has the European Central Bank at its core, and stated that all banks in the eurozone would be included within the new system. The aim is for the new mechanism to be in place for the start of 2013.