- Merkel says bank supervision will be built up in the course of 2013.
- Says bank supervision must be working before direct recapitalization.
- Says not all banks under ‘direct ECB oversight.
- Says EU summit discussed closer economic cooperation.
- Says December summit will set time frame for deeper euro zone economic integration.
- Hollande says EU summit confirms June decision on bank union.
- EU leaders see substantial progress being made in Greece, deal in reach with Troika.
- Spain’s bailout needs weren’t discussed at summit.
- Says role of non-euro countries was difficult subject. Barroso added ECB oversight to be inclusive for non-euro states.
- When Spain considers it should request aid, additional conditionality should not be imposed.
- German budget ‘czar’ not discussed at summit.
- Says EU has enough budgetary controls, procedures.
- Says Spain, Italy yields must fall further.
- Says ‘ the worst has passed’ for crisis.
- Hollande says Greece membership in euro still not assured.
- Says crisis fight on track to restore confidence.
- Open to loosening deficit rules in future.
BBG/RTRS headlines
And the EUR/USD continues range bound at 1.3067/69.
