Media playback is unsupported on your device

Eurozone bank rules 'good for Britain', says Osborne

13 December 2012 Last updated at 14:30 GMT

The Chancellor has said a deal by European finance ministers on how to supervise eurozone banks is "good for Britain".

Around 200 of the biggest banks will come under the direct oversight of the European Central Bank, which will act as chief supervisor.

George Osborne spoke to the BBC's Deputy Political Editor James Landale about the agreement.