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Eurozone agrees ECB banking supervision rules

13 December 2012 Last updated at 23:18 GMT

European Union finance ministers have agreed a deal on creating a single supervisor to oversee banks.

Under the plan, the European Central Bank would supervise around 200 of the eurozone's biggest banks, to try to prevent them failing and triggering another economic crisis.

Britain will continue to have a say when key decisions are taken, despite the fact that the agreement doesn't include British banks after the government secured safeguards for the City of London.

Robert Peston reports.