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E.U. Banking Supervision Would Ease Crisis

DAVID GREENE, HOST:

NPR's business news starts with supervising banks in the EU.

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GREENE: OK, this is something that's been called a big step towards resolving Europe's debt crisis. European leaders have been working to figure out a way to supervise banks spread across the different countries that use the Euro currency. Today, the German finance minister said a new system will be up and running by the spring of 2014. It will give the European Central Bank power to oversee the EU's big banks and step in whenever there are signs of trouble. Transcript provided by NPR, Copyright NPR.