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To do so, they would create a single banking supervisor "as a matter of urgency".
European leaders in June resolved to create a single euro-zone banking supervisor.
This is most apparent with the euro zone's current push to create a common banking supervisor.
After the pact, Leroy King, Antigua's chief banking supervisor, called Mr. Stanford "Big Brother".
Germany, in particular, says it is concerned about placing the new banking supervisor within the European Central Bank.
No. What we need is a single banking supervisor and a single settlement system like in the United States.
OVERSEAS On Wednesday, European Union finance ministers will hold emergency talks about establishing a euro-area banking supervisor.
The European Commission on Wednesday detailed the broad outlines of a new banking supervisor for the euro zone.
On Friday, Ms. Merkel said preparations to set up the single banking supervisor would probably take until 2014.
If the euro zone is determined to create a single banking supervisor, it should at least do so properly.
Turf battles among powerful regulators, such as the central bank and the banking supervisor, are one drag.
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