Supervisor role proposed for ECB

The European Commission wants the European Central Bank to be the supervisor for all the banks in the 17 countries that use the euro and have the power to fine institutions.

The creation of a single supervisor for banks would be an important step towards a "banking union" - a unified playbook for all of the 6,000 banks in the eurozone that many think is necessary to dig the continent out of a crippling debt crisis.