EU prepares to fast-track banking union

13 June 2012 Last updated at 06:37 ET Help

The European Commission President Jose Manuel Barroso has proposed a eurozone banking union to act as a circuit-breaker to help end the financial crisis engulfing the region.

The issue would be discussed at an EU summit in late June and the new structure involving common supervision and a common bail-out fund could be in place by the new year as Newsnight's Paul Mason reports.

Read more on Paul Mason's blog or visit the Newsnight website.

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.