EUROPE is publishing the draft conclusions of the European Council on 18 and 19 October. The document, dated Monday 8 October, takes stock of implementation of the “compact for growth and jobs” and work leading to increased integration of Economic and Monetary Union (EMU), especially within the eurozone. This mainly means the creation of a single banking supervision mechanism under the aegis of the European Central Bank (English version).
In accordance with Article 2(3)(a) of the...