Eurozone finance ministers discuss banking framwork

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Eurozone finance ministers have kicked off a 2 day meeting in Brussels, hoping to flesh out plans to reinforce the single currency. Securing a bailout for Spain’s banking system is topping the agenda, as ministers look to fine tune last month’s deal on banking supervision and bailout funds.

Central to the eurozone plan is a major role for the European Central Bank, in supervising commercial and national banks. The move would allow the permanent rescue fund - the European Stability Mechanism - to recapitalise banks directly, instead of via governments.

It’s an issue that many expect will take some time to resolve. Ministers will also discuss recent findings by EU, ECB and IMF investigators in Greece, as well as financial aid for Cyprus.

Eurozone finance ministers have kicked off a 2 day meeting in Brussels, hoping to flesh out plans to reinforce the single currency.