Germany moves closer to EU banking union

As pressure grows on Europe's battered banks, eurozone leaders are trying to rebuild confidence.<br />Germany's Angela Merkel has suggested the need for a European body to monitor major banks.<br /><br />However during talks preparing for this month's EU summit Merkel fell just short of endorsing proposals to create a 'banking union'.<br /><br />...<br />http://www.euronews.net/